That is true.
I think our strongest 11 is pretty good right now. But when you think of 2 quality players per position we lack alternatives to Suarez, Sturridge, Gerrard (ok we have Allen?), Lucas, Agger and Enrique (Johnson moving over works well enough, we have three RB options). Though some young players are stepping closer to filling these gaps).
Competition for places is important. Which is pretty much what Gerrez just said.
Look at United who just won the league. In the wings/AM positions they have Young, Kagawa, Valencia, Nani, Giggs and Rooney. I wouldnt call any of those squad players. They never play all at the same time either. Who ever performs best gets the games. No one ever fusses if they get an injury in those areas either.