Right now the squad is in need of players who can 'stretch out the play' on that right flank as an alternative tactical option to Mkhi/Mata who are both playmaking options. Now I am not saying Ox is the best option on the market, but if we were in for him, I could see him being a good option and someone who can perform to a high standard. He is a guy who can change a game with a moment of magic or drive past players.. he would definitely be a more useful player than Lingard.
Having players in the squad who are on the verge of first team football is a useful thing to have when you're trying to win league titles, you can't always go out and buy first team stars, as they're less content being on the bench.. you sometimes have to lure players with the promise, they may become first team footballers and almost play on their desperation to win trophies (knowing full well, they'll be an excellent squad player but unlikely to be a regular first teamer). As far as I can see, guys like Young/Lingard vs Ox.. I'd rather have Ox, he'd be more exciting, have more of an impact on games and would get enough football here to become a better player despite not quite having enough to be a regular first team player.
Sort of player that Wenger has no idea how to get the best out of.. complete anthesis of an Arsenal player (flair, direct, pace and power.. no wonder Wenger hates him).