Although the North London side managed a 2-1 win over Olympiakos to get their UEFA Champions League campaign back on track on Wednesday night, McLintock was far from impressed with how frail the Gunners were in defence.
Speaking to talkSPORT, he said: "When you look at the team overall at the moment, taking into account they've lost Cesc Fabregas and Samir Nasri and brought in four new players, are they going to do as well as last season or the seasons before? I honestly don't think they will.
"I think they're poorer this year than they ever have been. I think it's going to be the toughest season that Wenger's ever had at Arsenal.
"There's some part of Arsene Wenger that doesn't address various faults that we've had over the years.
"I think they're poorer this year than they ever have been", he added.
"We've let in more goals from dead-ball situations than any other Premier League team. So you would think that somebody would sort this out and that will improve us by 20-30%, but it doesn't seem to happen."
McLintock believes that the poor quality of the Gunners' play this season is because they have failed to bring in top players to the Emirates.
"After watching Arsenal over the last few years they've always needed three really top players to become one of the best teams in the world," the Scot sighed.
"But they seem to have gone away from the players they had, to the squad they have now.
"I'm just getting frightened. The idea of finishing fourth would be an unbelievable achievement, but you took that as automatic in the last few years", he concluded.