The north London side drew 1-1 with Crystal Palace on Sunday afternoon and produced a lethargic display at the Emirates Stadium.
There was no spark up front and a Petr Cech error allowed Yannick Bolasie to secure a point for visiting Palace.
Smith, meanwhile, said after full-time on Super Sunday: "It's an awful finish to the campaign.There is an air of apathy around the club in general and the season is dribbling to a close after being in a position to challenge for the title.
"There should be lots of questions at the end of the season, whether there will be I don't know. These aren't new problems, so you would hope there would be a postmortem and steps would be made to rectify it."
The end for Wenger?
More Arsenal fans than ever are now calling for Arsene Wenger's head. The Frenchman himself is apathetic - in the transfer market, tactically and motivationally.
What could really produce the end for the Gunners boss is if Arsenal finish fifth.
But that's unlikely. As badly as Arsenal have struggled, Manchester United are no strong team themselves. Wenger always gets fourth and knows that's what'll keep him in a job.
To move forward, it's been clear for a while Arsenal need someone new. A fourth-placed finish, however, seems to guarantee the Frenchman his job.