To be fair as much as I hate to admit it they do have one of the best (or at least better) academies in the country, you just have to look at the players they've churned out in the last 5 years or so; Walcott, Oxe, Shaw, Lallana, Ward-Prowse etc etc...
They're are all playing in the upper ends of the premier league so there shouldn't really be any shame in it, just something for our academy to aspire to!