Wenger does seem to be bigging him up. He's almost the opposite of Iwobi though, in that he looks amazing because his balance and dribbling is unbelievable, but he makes bad decisions on the ball often and I think he'd really struggle if kicked and buffeted by a Premier League fullback. I think it'll take him a while to play quick enough for this level, to really get comfortable, whereas Iwobi has taken to it like a duck to water.
It does help that all of Jeff, Willock and Nelson can be introduced to the first team out wide. That's a position you can get away with it a little more in and I think Wenger sees it that way too.