Qwiss Arteta may have known (and liked) that Ramsdale was a high-energy, rah-rah character, but that doesn't imply that you have lapses in focus throughout the game. That's something different altogether, and quite concerning. Wright is certainly giving him a look there.
I'm skeptical that Arteta pulls the trigger on Raya just because he wanted a marginal improvement in possession. I think there was a loss of trust at some point, a mentality/maturity judgment of some kind, a feeling that he wouldn't ever quite 'get it'. Character is clearly a huge part of Arteta's assessment of players.