Arbitration is a process, nothing more. It isn't perfect, but it's available when all other options have been exhausted.
No player should take what's said in an arbitration hearing personally; it's simply the job of the club to paint the player in the worst possible light, while the player agent does the exact opposite. What typically drives both sides crazy is the sheer randomness. Arbitration is a plum assignment to those fortunate enough to get the gig (they're chosen each year by both players and management), and the trick is to not vote one way too many times and get the other side angry enough to want to fire you.
This is the maddening aspect of arbitration. You can wind up winning the cases you should have lost and losing the ones you should have won. But distasteful as the players in particular may find it, I'm guessing they're not of a mind to eliminate it.