Just for reference, Claude Makalele, Javier Mascherano, Nigel de Jong, Michael Essien, Nemanja Matic, and Sami Khedira have featured for title winning sides over the last decade. Even cloggers like Lassana Diarra and Darren Fletcher have been central pieces in "Europe's best sides"in recent times. I don't think Coquelin is noticeably worse technically than any of these players from what I've observed.
You don't have to possess Michael Laudrup-ball playing wizardry to be a good central midfielder. Patrick Viera and Roy Keane were not on Pirlo's level in terms of technique. That's alright because Pirlo had Gattusso.
Even Busquets, as comfortable in the short passing game as he is, is hardly ever making lung bursting runs or raking forward passes. While Arteta does show good defensive awareness as far as positioning goes, he's frankly just too slow and has been for a good while now.