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What, you were expecting someone else?
Arteta isn't the deadly finisher that Podolski is, the flashy playmaker that Cazorla is, nor does the bring the kind of physical will that Mertersacker does.
Despite all that, what he does is truly indispensable to Arsenal, and there is really no other player on the roster that can match it.
Right now, Arteta is rather comfortably occupying a holding midfield role. It's quite incredible that he was able to move there after playing most of last year ceding that role to Alex Song, and instead has been a central playmaker.
Truthfully, he's not only moved there, but he has also flourished. He's averaging the most tackles and interceptions per game of any midfielder in the Premier League, and more importantly, he's retained that good old Spanish eye for a good pass.
While Cazorla and now Wilshere are the ones playing the deadly through-balls and setting up the strikers, it's Arteta who sets the tempo of the game.
He's the one who ensures Arsenal maintain big amounts of possession by always finding an out ball. He's the one who actually gives licence to the other two to romp forward merely because without his presence there would be far less security for the back four.
He leads the Premier League in passes completed, pass completion percentage, and interceptions by a midfielder.
And on top of that, he remains one of the best free-kick takers in the Premier League.
How many other midfielders in Europe offer this much? Bastian Schweinsteiger, Yaya Toure and Xabi Alonso? You really would have trouble thinking of many more. The variety of qualities Arteta brings to the table make me pretty certain that he is deservedly the No. 1 player on this list.
In a few words: Probably not the best, but certainly Arsenal's Most Valuable Player.