Goals by Kai Havertz and captain Martin Odegaard, after Morgan Rogers had scored for Chelsea in the second minute, ensured a third win from three games for Arsenal.
After an easy win against promoted Coventry City and a 1-0 grind at Aston Villa, however, this was the most impressive as Arsenal ripped into the visitors.
"I think it was an exceptional performance. I enjoyed every minute of it from the beginning to the end, and the beginning was tough," Arteta told reporters.
"I enjoyed it because the team reacted in a spectacular way. The conviction, the determination, the quality of which I intend to have them constantly, it was beautiful.
"It's an indication for us of how capable we are to perform at an even higher level than last season, and it depends on how we maintain and sustain that desire."
Arsenal did not beef up their forward options in a relatively quiet transfer window, with Brazilian duo Gabriel Jesus and Gabriel Martinelli, and Leandro Trossard departing.
But with Havertz, Odegaard and Bukayo Saka all looking sharp and new signing Christos Tzolis again producing some eye-catching moments out wide, Arsenal looked a real threat.
Norwegian Odegaard, in particular, looks back to his best after last season's injury disruptions.
"Odegaard has a point to prove from last season after missing so much football," Arteta said. "When that happens, Kai the same, Bukayo the same, we miss so many attacking players last season for long, long periods.
"I don't know how many times they've played together those two in the last year or so, but probably not much, and when you start to feel the chemistry they have between them and what they can produce, it's great."
Arsenal and Manchester City are now the only two teams with a 100% record in the Premier League, while Chelsea's impressive start under new manager Xabi Alonso got a reality check as they dropped their first points under the Spaniard.
His side have now conceded seven goals in three games, and while they look a threat in attack, there is clearly work to do at the other end of the pitch.
"We want to start having clean sheets, they will come," Alonso said. "The players are committed to working hard, to knowing that we're on the way to compete in each game.
"Not happy that we couldn't get anything, but we need to keep calm and carry on."