Aubameyang endured another tough afternoon on Sunday, failing to attempt a single effort on goal as Manchester City ran out 1-0 winners at the Emirates Stadium.
The performance was in stark contrast to last weekend's outing, where he scored a hat-trick against Leeds, but in keeping with a tough season since signing a mega-money new contract last summer.
"Aubameyang is past his best," said Jamie Redknapp. "He's going to have moments; he's going to get hat-tricks.
"But when I watch him sometimes, it's like he's lost his superpower.
"I saw him run past people when he first came to the Premier League. I saw him run past people at Dortmund. Now I'm seeing a player who looks like he's going to get bullied.
"He's your leading light, but the likes of [Bukayo] Saka and [Emile] Smith Rowe, they're the ones leading the way."
The loss, Arsenal's 11th of the league campaign, leaves them in 10th place and 25 points off Premier League pace-setters City.
"They will always be a big club but if they want to be a big team, they can't be in the position they are in now.
"When they lost [to Manchester City] in the Carabao Cup 4-1, it felt like a real low point for the manager and it felt like he might lose his job.
"He's stabilised it a bit since then and there have been a few good results but I think Alex [Scott, fellow pundit] has hit the nail on the head. This is an important time for this team, the club and the manager right now."