Sounds like he's making excuses there. It's like "ok we've not won anything for 5-6 years BUT compared to the teams around us..." He needs to take the blame and responsibility for things sometimes.
He's made mistakes in his management during this period. As has every other manager in the league....
Arsene apparently has had money to spend in the last 5-6 years but because of his footballing/financial philosophy, he's been unwilling and arguably too stubborn to spend money? Even when there's been a need to do so to strengthen his team and his team's chances of landing some silverware??!
It's whether you're happy with the style of football you play and your seemingly sound business model or whether you're prepared to risk the latter and perhaps the former in landing some silverware to satisfy the fans cravings and as a consequence, shutting up the critics and the media etc...
The way Arsenal run things is respectable, deserving of more respect than say what Man City are doing, splashing cash here, there and everywhere to win/buy success - a process that arguably devalues the winning of things, making the pursuit and achievement of success arguably souless in this respect.
Depends what the individual values in the sport tbh, values differing from one individual to the next.
You do well in most competitions, sometimes very well and you play very attractive football, sometimes very naive football. Things could be a hell of a lot worse tbh. You could support Liverpool. Imagine having to watch that boring dross week-in, week-out? Doesn't bear thinking about.