The Gunners have failed to win a major trophy since 2005, and Seaman feels that the ambition of Arsene Wenger's side has changed since he left the club in 2003.
He told The Mirror: "I remember when Arsenal finished fourth and the players were really celebrating. It was a little bit difficult for me to accept that.
"We weren't like that when I was playing. Then, we'd be disappointed if we didn't win anything.
"But maybe the club has changed its thinking, and top-four is now OK. Arsene has been there for eight or nine years without winning anything, but he's always been in the top four."
Arsenal are currently fourth in the Premier League and are also in the semi-finals of the FA Cup, where they will face holders Wigan Athletic.