The former midfielder does, however, believe that injuries to Francis Coquelin or Laurent Koscielny could spell trouble.
The midfielder has spent long periods of his relatively short career to date on the treatment table, with a number of ankle problems having severely restricted his playing time over the years.
He had looked to be challenging for a first-team place this season after impressing at the end of last season, but now finds himself back in the physio room with another ailment.
The news has surely come as a blow to manager Arsene Wenger, but Murphy believes he won’t be missed that much given the squad the French tactician has available to him.
“I don’t think Arsenal fans will be worried about the team because they’ve got so many good players,” he said on talkSPORT.
“If you look in central areas, (Aaron) Ramsey, (Santi) Cazorla, (Mesut) Ozil, would Jack have started even if he was fit? They’re blessed with players who can play in the centre of the park, except for the defensive one.”
Injuries to Coquelin or Koscielny could spell trouble
The Gunners are being touted as potential title challengers this season, having retained the FA Cup last season following a strong finish to the campaign.
They have also added goalkeeper Petr Cech from rivals Chelsea, seriously improving probably the weakest area of their team, with that addition being one of the main reasons many are picking them for the Premier League crown.
Murphy doesn’t see that happening, though, saying that if Francis Coquelin or Laurent Koscielny get injured, the Gunners don’t have the required level of cover.
“I think they haven’t strengthened the first eleven,” he added.
“If Koscielny or Coquelin get injured they’re weaker, they don’t have the replacements. If Coquelin gets injured, you’re probably putting Arteta in but he’s a completely different player, he doesn’t have the legs.”