It’s hard to argue both sides of this debat. But Wenger has the benefit of the doubt since he was the manager when it all came together.
The signing of Bergkamp being the other, be it a small, sign of where Arsenal stood as a club. They were able to attract a player who was 2nd in the Ballon d’or voting and 3rd in the Fifa World Player of the Year voting in 1993. You don’t sign a star like that if you aren’t a club of big stature.