I think you're forgetting about the sustainability model we pride ourselves in. Seriously, they boast about it. It's almost as if balancing the books is the new Top 4 Trophy. Arsenal has more than enough to punch out of this if everyone is committed. But we're pinning it all on a magical manager to transform the complacency and laziness and sheer head-in-the-sand idiocy of at least a decade.
Years back, they decided Football Fair Play was going to be a thing and they spotted a way to profit from that whilst propping up the illusion of competitiveness (or, shall we say, the whole point of the sport). Many of the fans were conned, and so Wenger lingered and rotted us out, year after year. We're halfway down the plunge now with gravity working against us. And the main question still seems to be, who can we bring in to defeat gravity. Bigger (and saner) questions than that need asking.