I think "the worst period I've known as an Arsenal fan" can be appilied relatively.
If this is the worst then we don't know how lucky we are.
So you've enjoyed the last 3 weeks then? I'm sure that's exactly how the board feel too. That we don't know how lucky we are to have Wenger to even be sharing the pitch with clubs like Bayern, and how dare we get upset when we keep getting mauled and humiliated and are a laughing stock. And it's exactly the line Gazidis will give us when he announces Wenger's new contract, which in all likelihood is already signed but just waiting for a run of 3 or 4 wins and 4th looking secure before being announced.
Our last 3 PL and CL games have had a goal difference of 3-13. This is an all-time low even for Wenger and there is no spin that can be put on it to make it acceptable. Only other time that’s felt like this was after the 8-2 but then we were able to re-energise the squad by bringing in Arteta et al. Now we’re stuck with the current bunch who have given up playing for the manager.