I think that once we get some more enemies that are capable of deflecting arrows, it may become less useful.
I've had the same experience as you when it comes to the bow - I decide to play without it because I find it a way too powerful.
If your doing story mode, that is only the last enemy. He is practically impossible to hit with a bow, unless you can get behind him to shoot
Yes, but I think most of us know that is necessary to edge players on to changing their strategy.