Changes to archery is currently on test live for bug testing and feedback from players. Additional arrow types were added a couple of patches ago … going to be tweaked again with this next patch. There is a test live specific forum section now so have a read through those posts to see what others think of the changes.
Changes to bows were also featured in the latest community stream and newsletter - see link below:
https://forums.funcom.com/t/weekly-community-newsletter-it-s-time-for-an-update/45954
If you do not watch streams then have a look at this summary that Multigun has very kindly created for the community: