not for me. it is a band aid at best and robs your subwoofer of power at worst.
It is no substitute for optimized subwoofer placement (within reason).
I will argue that these are not either or but instead of. One really interesting thing I’m reading here is how many are only looking at ARC as EQ.
ARC subwoofer integration is in addition to EQ. It sets up the crossover slopes and delays and this is where most have the biggest problems. The point of the EQ choices not necessarily being great varies with ARC vendor. Some make better choices than others. JL Audio and Dirac are two of the one's I tend to like the results of, but all will properly set the crossover settings.
Optimum placement of a sub is always a good idea.