Arsenal needed a win, but more importantly they needed to not lose. They did the latter, but should have done the former; a couple great chances gone to waste sees Arsenal drop a couple precious points. Everton are a tough team, fighting for a European place of their own, so overall a draw's not the worst result, but it does thin the margin for error a bit for the rest of the season.
I've seen Arsenal play worse and win, but I'm not as frustrated as I maybe should be right now - the quality's there, but for whatever reason it just didn't click today. The MLS-quality refereeing didn't help, but there's only so much blame I'll put on the refs today; Arsenal had their chances and didn't take them, and left two points behind as a result. But they're still in third place, they still have mostly an easy run-in, and they didn't play like they did Saturday; it wasn't a great day, but it wasn't awful either.