Arsenal since 1996 (Wenger's arrival):
90's:
3-1-2
00's:
2-2-1-2-1-2-4-4-3-4
10's:
3-3-3-4-4-2-2-5-6-6
So there's no doubt they're very consistent, they're the only club not to miss the top six since 1995, but at the same time what good does that do when their numbers get worse and worse without what seems like any sort of light on the horizon.
For all the talk about us not winning the league title, Arsenal have now gone 15 years without one, will make it 16 in a row next spring, have still never won the Champions League, we've won the Big Ears twice since they last won the league and our and United have superior global brands and reach. They're definitely in a more fragile spot than United are for the longer-term. Us getting the Klopp appointment right was vital for our revival both as a club and as a revenue brand and if they're going to find a permanent manager recruited from elsewhere it has to be the right one.
At this time, the other top clubs aren't even chasing their top players because Aubameyang is too old to be of any long-term value, Guéndozi is still a prospect rather than ready, Pépé has been a flop and Lacazette is inconsistent. So, they don't even have anything to cash in upon to make a Kroenke-approved spending spree similar to us nearly breaking even during 2017-2018 due to the Coutinho sale. There's no way Kroenke is going to allow that without a big sale since that's how US franchise ownership works, the revenue needs to be there before the spending, so they're in deep trouble with no clear assets. What they must regain first of all is the belief and unconditional support from the stands, something they've lacked for ages.
Maybe for that supporter reason, Pochettino would be the wrong choice - because he'd be highly divisive among the fanbase due to his background and thus be on a very short leash to perform at all times without any long-term patience afforded, which they will need. Merely making the top four next season would be an astonishing achievement given how ran down they are and how broken the spine of the team is in the central zones of the pitch.
The crux of the whole situation is - Pochettino may well be the only available manager who could achieve a top four next season, but would the fans even tolerate his presence around the place? It's definitely a fun situation as a Liverpool supporter to see the club that stood in our way so many times when we chased top fours during the Wenger era in such a disarray. There were a few of those seasons we thought "we'll get Arsenal this year and make it top four" and then it always ended in an anticlimax!
One thing is clear though, whoever comes in, especially if it's Poch, will have to throw the kitchen sink at the Europa League. Bar anything unexpected, the knockout rounds there may well be without any heavy hitters whatsoever. It's a last-ditch chance for them and United to throw a hailmary and rest players for the league in order to get to the Champions League through the emergency route. Arsenal have gone far in the tournament twice in a row, so we can't rule them out. It'd be hilarious if they got knocked out of there too though. The fewer English clubs in the CL, the better.