I'd be excited to get rice, but I think I like the idea more of us losing out on him and having to go after another Ruben Diaz-esque third choice that none of us have heard of.
If arsenal get rice I can tell you right now how it will play out. Media and neutral fans will fawn over his performances and arsenal will have a decent enough season scraping into the top four, but ultimately only winning a domestic cup if anything. Rice will have a decent season but will be lauded as a masterstroke in which they got one over us.
Meanwhile, whoever we sign, be it a household name or a Diaz, will have a decent season as they acclimatize to pep but the greater football world will decide they flatter to deceive. We win at least one major trophy.
In later seasons rice is fine at arsenal winning the odd cup here and there and continues to be a media darling whilst not really improving. Whoever signs as our 8, with a minimum two seasons under pep, becomes or continues to be one of the world's best.
Ultimately, it could be rice, it could be someone else, but the difference is pep.