Other reports suggest Arsenal explored elite attacking options but have already missed out on Vinicius Junior, while Morgan Rogers is also no longer available after moving elsewhere. That matters.
That does not mean the window has gone badly. It means the next move matters more. If Arsenal cannot land a top-tier winger, they may have to find value in profile rather than reputation: pace, one-v-one quality and depth across the front line.
Another report says Arsenal have been linked with Ezri Konsa, while Liverpool could rival them for the defender. There is also background interest elsewhere, with reports saying scouts have watched Kaua Elias, showing the recruitment team is still surveying multiple positions.
The Konsa link makes sense in football terms.
Title winners rarely stand still. They add players who reduce the drop-off when injuries or rotation hit.
The market signals around Arsenal are mixed rather than alarming. They appear active, but they also appear to be adjusting after missing major targets. That is often where title defences are shaped: not by the first plan, but by the response when the first plan fails.
The next storyline is obvious. If Arsenal can turn interest into the right attacking addition before the window closes, their squad should still look built to go deep again. If not, the margin at the top could tighten very quickly.