A big win for Arsenal, a great result for Manchester City… and a disappointing result for Liverpool.
Some may see the performance of Jurgen Klopp's team that way. Lost 3-1 on Sunday Because after the Reds' impressive win against Chelsea on Wednesday, I was hoping for a similar win this time around.
But football doesn't work that way. They played against a really good team in Arsenal. We had a great home run and had a lot to contend with on the day, but we were very smart about how we approached it.
Arsenal's intensity far exceeded Liverpool's in the first half, when they were completely dominant. The Gunners were the first to react to more loose balls and hunted with the pack.
They were great off the ball, but their dominance wasn't just due to how hard they worked physically.
That aspect was great, but their intelligence about who did what and when was also part of the plan, which was very impressive.
“Liverpool stopped with intelligence and athleticism”
When Liverpool had the ball they wanted to get it to Alexis Mac Allister as soon as possible, but Arsenal were ready for them.
Martin Odegaard effectively stopped feeding Mac Allister the ball when he was pressing high up the pitch with Kai Havertz, but he also knew when to drop deeper and stop the Argentine. Ta.
When Mac Allister goes up for the ball, if Odegaard isn't nearby, Jorginho or Declan Rice will likely jump out of position to shut him down.
This was a high-risk approach, especially against a team of Liverpool's quality, as the ball could have flown into the space behind, but Arsenal's organization was so good that it worked. Ta.
You can't press that well unless everyone is on target and everyone has the same desire, and Arsenal had both. It wasn't just Mac Allister that they stopped, they jumped on all of Liverpool's midfielders really quickly.
As well as Odegaard and Havertz, Arsenal's other two midfielders, especially Declan Rice, were also excellent. He was fantastic – probably his best performance in an Arsenal shirt.
And Jorginho was also great. Bringing him into the team looked like a reluctant move on paper before kick-off – Liverpool seemed to be afraid – but it was out of respect and part of the plan. Ta.
Rice's intelligence, second only to his athletic ability, meant it worked.
No Liverpool counterattack this time.
When I was watching the first half, I thought there was no way Arsenal could keep up this intensity, but they couldn't. Liverpool bounced back after the break and got off to a very good start.
But perhaps the most impressive thing about Arsenal's afternoon was what they did when they led 2-1 midway through the second half.
Yes, a terrible mistake from Liverpool cost the Gunners the lead, but their game management helped them secure a point afterwards.
Arsenal found themselves in really deep positions on many occasions, but they achieved it as a team, so they didn't just stay in two of the four banks on the edge of the area.
With Odegaard and Havertz dropping together, Liverpool found it difficult to find space.
We've seen Liverpool fight back from being behind many times this season, but this time they were unable to overcome Arsenal.
In the more than 30 minutes since Gabriel Martinelli's goal, including stoppage time, they have had just three shots on goal and none on target.
However, let's put things into perspective. Liverpool were chasing games against really good teams but were missing their best players. Mohamed Salah is a game changer, but he wasn't there.
Not being able to start Darwin Nunez was also a blow. Admittedly, he came off the bench in the second half despite a foot injury, but given the way the game had played out at the time, he could have made a huge difference before half-time.
His pace would have allowed Liverpool to run longer and faster to get out from the back and close behind Arsenal. Kodi Gakpo and Diogo Jota are also fast, but they don't have as much power. They missed targeting Nunez.
'There's no need for Klopp to panic'
Liverpool didn't play as well against Arsenal as they did against Chelsea, but I don't think they were that bad.
It was a truly dominant performance from Arsenal, and at times you had to walk off the pitch and think, “The other team were better today.''
This was a bit of a shock for Liverpool as they have been playing well and rolling teams over the last few weeks.
This was a taste of their own medicine, especially in the first half when they were lucky to equalize, failing to get a shot on target before Gabriel's own goal.
But if I were Klopp I wouldn't panic. This was his team's first Premier League defeat since September. They have to react and I think they will.
They have players back and we know – Wataru Endo will return from the Asia Cup to compete in midfield and Salah should return from injury within the next few weeks.
Trent Alexander-Arnold and Andy Robertson are returning to full fitness, while Thiago Alcantara was on the bench on Sunday.
They now have enough depth to compete fiercely for the places – and as of early February they were still top of the Premier League and aiming to win four competitions.
So Liverpool still have a lot of positives. The late euphoria is understandable as Arsenal are back in the race, but the Reds are still in a great position and this one loss is not the end of the world.
Danny Murphy was speaking to BBC Sport's Chris Bevan.