Koscielny is fine, but I honestly fail to see why it's "good news" that Giroud and Coquelin extended their contracts.
You've got Coquelin, Xhaka and Elneny, who can be used as the more defensive midfielders. That's lacking in quality but not in depth. Cazorla, Ramsey, Xhaka, Elneny, and then most likely Wilshere next season for the other position. Same problem there.
Who are they going to get rid of? Most likely not a single one of them. An upgrade or possibly even two, is what's needed but with so many players, this seems very unlikely.
This is all really underwhelming to me.