Your critical assessment of the bow is a bit flawed.
There are already things that compensate for the bow requiring resources in terms of arrows to attack. Namely you can fight someone at range and thus engage them and start doing damage long before they can if they are using melee, While the bow may consume arrows on use you have a choice of ammunition type at your disposal which a melee build does not, A sword has one kind of style it can attack you with. the bow on the other hand can use low damage cheap arrows which cost next to nothing to craft and they can spam you with shots in an attempt to keep you forever crippled or switch to a harder hitting ammo type to do some raw damage, this action of swapping ammunition also allows for one to directly influence how much damage you do with the bow without needing to put perks into archery to do so. A sword however will do x damage no matter what unless you up strength or something such as this. Not to mention some of the arrow types can be really powerful, using explosive arrows you can damage structures, goodluck swinging your 2H sword at that door all night, the gas arrows aoe is great for taking out clumps of thralls or NPCās.
Another thing is the high rate of fire one can achieve with a bow can make it a formidable foe, using the normal left click arrow spam you can keep someone crippled to the point where they arent ever going to get up to you.
So think of melee as the simple straight forward approach to combat, you go in you do x damage and you swing until you or the enemy dies, where as bows are versatile and give you options, sure they cost resource to use but once again you have options in the types of resource to use and are compensated for this with a variety of ammo types to suite different situations. Far from trash or useless