There is another thread about archers, but I think there is room to discuss this specifically.
Altogether, arrows are just a chore to craft. Not only do you have to sink skill points into carpentry, but you must also invest in forging. While there is a specific path for the ranger type archers to create arrows with ease, it's not the right build for all archery focused characters. Buying arrow heads is expensive in the rare event you can find them for sale. Furthermore, the resources required to even craft the most mundane arrow bundles is kinda ridiculous.
To fix this there could be several approaches, like making more. powerful bows available to offset the poor damage of mundane arrows. Or (most preferably) changing the recipe of crafted arrows to something more reasonable. Or making iron and steel arrows widely available with NPC merchants.
Just a few ideas, and I'm sure there are many great ideas from the community to help balance this a bit.
Crafting Arrows
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