I think it's a myth that there are people who revere Wenger to the extent some people on here suppose. There may be some but you'll always get extremes of views in a large group of people. I think a lot of people still respect Wenger though. I certainly do. And that's why I will defend him at times, but only from the more extreme opinions. I certainly don't jump to his defence at every opportunity as some have suggested.

I am increasingly frustrated by his damn stubbornness in the transfer market. He's like some OAP grumbling about the price of things. Well yes, things are expensive and yes it is ridiculous but that's the modern game and if you want to compete you need to join in. He has to an extent with Ozil and Sanchez, for a while he was spending folding money. And I can see the logic in not signing more players of the level of Giroud or Welbeck - go big or go home - but we DO need to go big and, once again, he's failed to get his man despite making offers for the sort of players we need.

I don't agree the stadium project was a failure. I don't think we'd have been able to compete long term without doing the move. All the other big clubs have either expanded, moved or are looking to. The notable exceptions being Chelsea but with their other stream of income they haven't really needed to. I do think the timing of it was somewhat unfortunate though in that we did it at the time when the billionaires were having the most impact, there WAS a period of belt tightening in that era, I think Wenger did well during time, and by the time the financial pressures eased we had TV deals which almost wipe out the advantage the new stadium gives us. I don't think you can pin any of that on Wenger.
My problem with Wenger is he's now not making enough of our considerable resources and my problem with the club is that they don't care. It's simply not true that Wenger is under no pressure but he's not under enough. He keeps delivering top 4 and while that shouldn't be the limit of our ambitions it shouldn't be sniffed at either. It doesn't give much margin for error and other clubs have thrown a lot of money around trying to achieve it and failed to do so consistently. But with our resources now he isn't doing enough and the board don't care how we do so long as the finances are good. This is why removing Wenger, although necessary, is no silver bullet.
The last 3 years we:

Finished 4th and won the FA Cup
Finished 3rd and retained the FA Cup
Finished 2nd

If this all seems disappointing and under-achieving then it is a back-handed compliment to Wenger. Before he came along we were a big club but never expected to challenge consistently, historically we hadn't done so. He's got us in a position where we expect to be winning titles regularly and are set up financially to do so, he deserves credit for that.

I believe Wenger still wants us to succeed. He maybe takes a bit too much pride in the perennial top 4 finishes but I don't believe for one minute he doesn't want us to do more. It's increasingly clear that he's either unable or unwilling to do the things required to push on though. I don't think the idea of being self-sustainable is a bad thing in and of itself but we now just seem to be stockpiling money which benefits only the owner and board.

I just think football as a sport is broken. As NQ said in one of the Olympics threads, you see in the Olympics what sport should be about. These preening, cheating, diving multi-millionaires are no part of what I think of as sport. And the clubs (not just ours although we're one of the worst) endlessly see us as customers, not fans. They cynically use the fact that we can't go to the 'shop' down the road, it's the ultimate brand loyalty. You can walk out of the shop but you can't go elsewhere. I literally can't believe they get away with some things, like the ruse of changing their kits every year and people queue up to buy the incrementally different new shirt.

In brief: Wenger needs to go but I don't think it will make as much difference as some suppose with our board.
The club is broken in terms of what a football club should be and historically was, but we're a small part, well not that small, of a far bigger problem in the sport in general.
All started with Sky, if you ask me.