Smith Rowe strikes me as a Wenger player. Wenger would've viewed his tremendous payload of talent as a great gift, and dropped him into the side on the flank and figured out the angles. Wenger probably wouldn't have signed Vieira, would've done weird things like signing Vieira then playing Smith Rowe in a double pivot. Arteta is struggling to pick Smith Rowe because he lacks "specificity", and there's strong competition for his more natural roles.
Like anyone rational I admire Smith Rowe as a player, but I reckon he'll be a squaddie at best for us, for reasons to do with his traits and career timing. In an ideal world he would've been fit this year and proving himself as a successor to Xhaka. We're a million miles from that outcome at present, and we'll need to invest in midfield in summer. That means bringing in one or more players who we intend to start ahead of him for years to come.
However, a strong squad in this league needs versatile second stringers. With his ability to play eight, ten, wide left and even up front, Smith Rowe has got some similar attributes to Trossard and he could potentially be the kind of player who decides trophies. However, the Trossard comparison also gives you an idea of how much impact to expect and demand when he comes on as a sub, and he has been nowhere near Trossard's level in his very few appearances for us this season.
That's why I've been a bit mystified by people's claims he should be being used more, as if 70 minutes for the England U-21s were some kind of calling card. By the time he was past his surgery, we had very few fixtures and there's no way he starts ahead of Martinelli or comes on ahead of Trossard. The only result from that is making life harder for ourselves. So he has to wait.
It's highly likely we're going to watch Smith Rowe under an Arsenal contract for at least one more season, and by then it'll be crystal clear whether he's going to have a career at our club or not. If I had to wager I'd say no, but it's open, he has his chance.