I don't understand the despair to be honest.
Yes, it would be nice to see a signing at DM, we look a bit thin there. Coq could break at any time and then the backup is Arteta who is made of glass. But elsewhere on the pitch? If we can't get a top striker, (which we can't this window because they're all currently playing for clubs with equal or more riches/prestige/chance at titles than Arsenal) what do people actually want to do? Why do so many seem to think that we should just be able to buy these players like you buy apples at the supermarket?
Since it's obvious we could not attract any of these top strikers to Arsenal this summer, surely it's better to stick with what we have? Are we really that desperate to see more Welbeck level signings right now? Or Higuain for 50m or some such ridiculous sum, who is possibly a bit better than Giroud? (Which by the way is all complete guesswork before actually seeing him play in our team and in this league. He seems like a right delicate little flower who is choke prone in the extreme and I sincerely doubt he'd step off the plane and start delivering in the PL.)
We have a good team already with ample backup for almost every positions. If we're going to sign people at crazy amounts of money, I would want to see players that definitely improve the team. Most names people are bandying about right now are names that you would have scoffed at 2 months ago. Now almost anyone is apparently way better than our players.
Let's have a little faith in our players - our forwards will start delivering goals and the defence will settle around Chech. It was always going to be a tall order to match City's expenditure, but it's a long season and City will hit their purple patch soon enough, regardless of spending a bazillion quid. Look at Chelsea ffs.