The Gunners' lack of activity in the closing stages of the transfer window has prompted many to suggest this may finally be the year that Wenger's side fall out of the top four.
However, the 62-year-old dismissed any such claims, pointing to Arsenal's third-place finish in the Premier League last season after many had predicted doom and gloom for the Gunners last August.
"You never expect much from us, but we always have a good potential to surprise you," he said.
"If I listened to the predictions on the same day last year, it was predicted we would finish between 10th and 15th. We finished third."Wenger blamed the 'emotional society' which football now operates in as the reason behind knee-jerk reactions from fans and media.
"There are instant reactions on Twitter, on radio and the internet. That tells you a lot about the emotion in modern society," Wenger continued.
"Society has moved from having a distance to events, to becoming highly emotional.
"We have moved from a thinking society to an emotional society.
"I think it's better to think before you say something. It's easy to speak."
Arsenal travel to Liverpool on Sunday, still in search of their first win and first goal of this campaign, and Wenger believes Brendan Rodgers is under the same kind of pressure.
He added: "There are also a lot of expectations at Liverpool. I believe Liverpool are a good team.
"Having watched all the games I could watch until now in the Premier League, it's very difficult to single one team out above everyone else.
"Liverpool certainly have a chance to be fighting for the top, but we're competing with Chelsea, Manchester City and Manchester United now as well."