I think Wenger is right on the mark myself.
Arsenal have a deep and talented squad. They do not need players of a similar caliber. They need difference makers. World class talent. That wasn't available.
GK - Cech, Ospina
RB - Bellerin, Debuchy
LB - Moreal, Gibbs
CB - Koscielny, Gabriel, Mertesacker, Chambers
DM - Coquelin
CM - Wilshere, Ramsey, Arteta, Flamini
AM - Ozil, Cazorla, Rosicky
Wide players - Alexis Sanchez, Walcott, Oxlade-Chamberlain
ST - Giroud, Welbeck, J.Campbell
The one area I would have liked to have seen Arsenal add somebody was behind Coquelin. I was disappointed that didn't happen. But that is my only complaint. And as I said before, I only wanted to see a small signing here. Not a star but someone who is comfortable being a backup to Coquelin who I think is a very good young player and should continue to be developed and remain as 1st choice.
The rest of the squad is very talented and has depth across the board.
They needed world class talent. Not more talent of a similar quality. They need someone who can elevate the squad. Who can lift the team. That player wasn't available this summer.