It'd be nice to allow users to choose whether they want to show an arrow next to navigation items that have a dropdown. Probably off by default.

Should this arrow be customisable by a theme?
Potentially I can see this as a setting shows on the parent to sub nav link, for example:

I am torn though because this also could fit under a style variation.
A setting makes more sense to me because a style variation would end up as a complicated matrix: light / with arrow; light / with no arrow; dark / with arrow; dark / with no arrow.
@mtias sounds reasonable, it could get murky and that was part of reason I was torn. I think maybe then this at least opens it up for other subnav settings or for plugin hooks.
@mtias @karmatosed I'd suggest a bit different placement and naming of the setting, something like this:

How does that look?
Edit:
Should this actually be a per-item or rather a per-navigation setting? I'd suggest the latter as it feels more natural to me - either I want to show chevrons for submenus or not. What do you think?
Yes, correct. It should be a setting of the navigation block, not the navigation link.
~Seeing as that the chevron is a mere stylistic thing, I agree with @mtias that it should be a style variation (or just left to the theme entirely) rather than a dedicated block option.~
I misunderstood his post, nevermind.
::after pseudo-element styles and the block styles API?HI @ZebulanStanphill, thanks for your feedback.
I'm still not convinced that adding a whole new inspector setting ...
It has been discussed, for instance...
and addition HTML markup was necessary
if you mean to adding an SVG icon, it's similar to the previous one. It was discussed in the PR, too.
However, we are going to keep working on the new design for sub-menus, and it's closely related to this implementation. Here there is the (draft now) PR https://github.com/WordPress/gutenberg/pull/19681
Sorry, maybe I wasn't clear enough about my previous comment. Just in case, what I attempted to say is feedback is more than welcome, @ZebulanStanphill, in #19681 in order to keep polishing the implementation.