Replacing Sagna with Debuchy wouldn't have been a problem at all, had we strengthened in other areas we were clearly weak in. We might have even come out stronger as a team.
We're weaker at CB though, because we replaced two experienced CBs with one 19-year-old with barely any experience at top level.
We're weak(er) in midfield, because Arteta is even older and slower than he was last season and we've got no real physical presence there except for Ramsey who's being converted to an attacker anyway.
We're weak(er) up front, because we haven't signed the quality striker everyone knows we need ever since we sold that Dutch cunt and now our only established striker is out for at least half of the season, so we're left with Sanogo who hasn't scored a single goal in a competitive game or Alexis, who still needs to adjust to the league and the position, and whom Wenger is reluctant to play up top because then he'd have to drop one of our two tall players in the team.
Granted, signing Alexis was a great bit of business and makes us less reliable on the injury-prone Walcott. It's not going to make a difference in the grand scheme of things, since the rest of the squad isn't good enough.