Having crashed out of the FA Cup against lower-level competition last weekend, Arsenal are now on the verge of crashing out of the Champion's League (CL) after today's 3-1 loss at home against a clearly superior Bayern Munich side. They still have to play the second round in Munich in two weeks' time. But Arsenal would have to beat Bayern by 3-0, and that seems about as likely as my winning the lottery without buying a ticket.
If Arsenal do exit the CL, there's no telling when they'll get back again. Indeed, the only "trophy" left for Arsenal to win this season is CL qualification for next season. Arsene Wenger considers it would be equivalent to winning a cup (see here). But it remains to be seen whether this Gunner side is strong enough to "win" fourth place in the League. It really would be like winning a cup, given everything else that's gone wrong this season. But will we really want to shout in triumph, "We 'won' fourth place." It's actually pretty sad, especially when you stop to consider that the Gunners could just as easily finish outside a Europa League place.