As for the bugs, yes that's a problem, a problem that is being worked on and fixed, as all updates in the past have brought bugs, so too will future ones. All we can do is patiently wait for the issues to be sorted out.
As for ARXs themselves? No I dont think it was/is a failure. It's just an ingame way of doing something (buying cosmetics) that many of us have been doing for years outside of the game. I'm pretty neutral to ARX, but the 400 ARX a week part is a nice bonus.
If you want a failure, I would have to point to something like Multucrew as an actual failure (my own personal opinion). With little reason to join multicrew (except maybe explorers out in deep that have the "combat itch"), or very niche reasons, it was a very unrewarding experience and remains so to this day. It is however, I believe "salvagable" and FDev may very well give the Multicrew mechanic a second look in the future
And on a more humorous side note, I dont think I've said or typed the word "Cosmetics" more then I ever have before. I feel like I should be going to the mall and buying makeup or something lol