His side trailed 2-0 after 28 minutes but hit back as Mo Salah (31) and Roberto Firmino (31) secured a 2-2 draw in a game that summed up everything so intoxicating about the Premier League.
Salah also missed a penalty and blazed a sitter over the crossbar in stoppage time while Arsenal keeper Aaron Ramsdale (24) made two stupendous saves at the death to deny Salah and Ibrahima Konate (23) as the visitors hung on.
The way Liverpool began the game could not have been more different. They were off the pace, sloppy and overwhelmed by Arsenal's vibrant play for the first half an hour but ended up playing the kind of football that brought them the 2020 title.
"A bit typical for us this season. An open game, completely open, they score with the first situation and the second one," Klopp said. "Our reaction was good.
"It was a spectacular game in the end. How we didn't win it with those late chances I don't know."
The draw left Liverpool down in eighth spot, a massive 29 points behind leaders Arsenal, although Klopp's side may just have opened the door for champions Manchester City.
Arsenal lead City by six points but have played a game more and must also visit the Etihad Stadium.
"I'm caught in between (being happy and not)," Klopp said. "I have no problems with drawing.
"Arsenal were good but they could and should have lost this game. The point for them is better.
"The goal we scored helped massively. All of a sudden we were in charge of a wild game. We deserved at least a point."
