To be honest, I really think that the Europa Cup is a complete waste of time (and energy, effort, resources) and an utter and total distraction, unless - firstly, by some mad freak or combination of endurance, good fortune, and divine blessings, one actually happens to win the trophy, which automatically awards you with a place in the Champion's League, or secondly, you are a team that have never played in Europe, in which case it is a valuable experience and offers both money and exposure and prestige.
Personally, I'd prefer to stay out of Europe completely until we have rebuilt the team - thta is, from the back out, have them playing together - as a squad, learning, and developing confidence. For now, although there are definite signs of improvement, - the young players are very promising and have both a positive atttude as well as skill, tenacity and energy, this is still very much a work in progress.
We are not going to regain, or recapture, ground, until the deadwood is cleared out (which is finally happening), the youngsters have grown into themselves and have confidence in their abilities, attitudes have improved, Arsenal stop making stupid mistakes, (anyone can make mistakes, but repeating the same, silly errorsendlessly is moronic) and the team - as a team, not just a collection of talented individuals, - can play well together as a balanced unit.
That will take some time; in general, (unlike, for example, Chelsea, or Manchester United in recent years, before OGS, or the growing tetchiness of Pep at Manchester City - I foresee a parting of the ways in the relatively near future - as
@Lord Blackadder has pointed out on a number of occasions, Pep is not used to managing a team when conditions become challenging or contrary) - Arsenal are not in the habit of jettisoning their managers hastily.
In this context, Unai Emery was something of an exception.
In other words, I think that Arteta will be given another season at least, especially if there are clear signs of an improvement in attitude, outlook, performance and results; and remember, too, he has already won a FA Cup with Arsenal, which is more than Mauricio Pochettino - who was excellent - ever managed to do with Spurs.