3. Inconsistency

Perhaps Arsenal's biggest problem on the pitch was their inability to put together a consistent run of form at any point of the season.
The Gunners went unbeaten until gameweek eight, winning five and drawing two before losing at Bournemouth. That defeat to the Cherries kickstarted a four-game winless run in which they lost one more game and drew two.
Arsenal suffered a three-game winless run on two more occasions throughout the season and also endured sequences of consecutive draws or bouncing between wins and stalemates. It simply wasn't good enough.
Constant struggles to put together a consistent quality run of form regularly prevented the Gunners from ever really getting themselves up and running for the season and that largely came down to inconsistent performances on the pitch, both by individual players and the whole team.
Everyone will tell you that consistent form is needed to win the league and there is no denying that. Liverpool enjoyed winning runs and an unbeaten streak of 26 games this season while Manchester City won all but four games between December 2023 and May 2024.
Arsenal went so close to doing the same last season as they won 16 of their final 18 games last season, with a sole loss to Aston Villa ultimately costing them the title. Meanwhile, the Gunners never managed to win more than three consecutive games at any point this term, but if they had put replicated last season's efforts, they could have won it, or at least come extremely close. However, their dreadful inconsistency meant they could never mount a serious challenge.