It might sound defeatist. But while I expect Arsenal to "challenge' for the title in the sense of being close to the 1-2nd place, ultimately I'm realistic that the team will finish within the 2nd or 3rd position.
With the added demands of champions league, the lack of a top class striker up front, and the constant playing of havertz, let's be real, the title is no where near. Plus city seem to be chugging along despite losing significant team fringe players (eg: Mahrez, Gundogan) who were match winners.
A good run in UCL (aka not dumping out in the first round of 16) would be nice, plus a possible trophy in either league or FA.
this isn't a revisionist view after the start of the season.