I disagree. I´m not exactly a footballing scout, but I´m willing to bet that better and more suitable midfield options were (perhaps still are) available for sums of money that we ought to be spending if we really do want go to the next level.
What grates me is that we bid for him now. Cabaye isn´t a top level midfielder (though I rate him), and he´s playing for a far smaller club. If we really wanted him, this could have been done and dusted months ago. Ergo, I don´t think we truly want him, but we´re so fucked now that we have to sign somebody for Fenerbahce, so Wenger is now saying `meh, Cabaye... why not´.
But whatever, I feel like I´m repeating myself at this point. And 1 signing is better than none, I suppose. Unless we´re signing Gourcuff or Ashley Williams or something.