Arrows and bullets are archaic old MMO relics that should be happily discarded. In ffxi, before the great ranger nerf, people used to defend RNG's amazing damage by saying "they pay for that damage". To prevent balance issues and maintain damage output equality, this is a necessary change.

Currently, the ammunition system isn't really even a gil sink., it's just a transfer of gil from archers/bards to crafters at max level. Now if max level arrows could only be purchased via NPC's, then this might be a different issue (removal of a frequently used gil sink could cause economic issues). Since that's not the case, I say to hell with them.