Of course, and it's kinda funny to see all the people doing cartwheels when we won it a couple of years ago now furiously backtracking and dismissing it now it fits their agenda. Calling top 4 a 'trophy' was unfortunate but the point he was making was obvious, and obviously true - finishing top 4 is arguably more important in the modern game than winning a domestic Cup. It shouldn't be, obviously, but the CL is all important both financially and in terms of attracting players like Sanchez and Ozil.
Back in the halcyon days of 92/93 we focussed on the cups to the detriment of the league, hence flirting with relegation that season. That is no longer an option.
But Wenger achieved both for the last 2 seasons anyway so why are people making this another stick to beat him with? There are plenty of real ones, people don't have to invent ones.