#3 Arsenal lacked attacking fluency
Arsenal's attacking potency and passing was weak, with Ozil, Aubameyang, Lacazette and Iwobi, being pretty poor. They often lost the ball, gave it away, and didn't really have the incisiveness that yielded the earlier better results.
The Liverpool game, whilst not a win, was a commendable draw against a title challenging team and was a good display in both attacking and defensive terms. Had Arsenal today played the same, they may have beaten Wolves, but lacking attacking impetus was a major factor in the limpness.
Lacazette usually acts as an attacking lynchpin, linking play and holding the ball up. But today, he wasn't as effective, since he often gave the ball away and Iwobi also was guilty of this.
Aubameyang is the current top scorer in the league, and Premier League player of the month for October. However, he was pretty isolated today and didn't really impact the game that much.
Arsenal had an off day, and couldn't go through the gears here.