Wenger is transparent about his 'nearly' list. But that shows we do infact identify them.
Without knowing how the many players other clubs missed out on you cant make the assessment that we are worse. But the evidence we do have would suggest that we are just as good as any other team barring the big three.
Edit: i believe the problem stems from identifying the rest of global football as a single entity and arsenal as something seperate.
Club vs club basis we do quite well. Bellerin is a shining example of that.
Players pop up out of absolutely nowhere, then you will say 'wenger didnt identify him lol', which isnt an objective viewpoint at all.