Sadly, buffed Multishot is still ARC's best damage option. Barrage fires 4 arrows, but even fully buffed Barrage arrows do less damage than unbuffed Multishot (definitely less per shot, probably even less total damage).

Bloodletter does pathetic initial damage now, and the fixed damage proc went from 500 to 372.

Foeseeker with nocked arrows does respectable damage (maybe a tad more than a fully landed Multishot), but you have to use up your arrows to do it, so it comes out behind, say, Multishot + Skull Sunder II (and you have 500 more TP if you do the latter).

The single biggest hit for ARC (besides the general damage reduction across the board) is the TP nerf on Multishot. Only 500 TP for a full set of arrows is crippling.