Like several players I share some concerns with Arcane Strike.

There are a number of combinations with control effects and multi attacking that seem like they would be devastating. Sweeping Strike, Whirlwind and Flowing Sands plus Arcane Strike (Enemy of my Enemy) will thoroughly futz the opposition. Arcane Strike (Force Push) plus Flowing Sands on a bridge is potentially a "win button" for some lucky encounter.

But at the same time Arcane Strike is hardly the only source of control effects in A:RPG.

Sweeping Strike, Whirlwind and Flowing Sands are also dominant with Shield Slam (Push everyone's clock by 3 and prone) Edge of the Shield (Push 5! to everyone) or Juggernauts Hammer (like force, push kills everyone if unleashed on a bridge).

Against these other options I don't see that Arcane Strike is that crazy. Also as John has noted, it is harder talent wise to get into Arcane Strike than to get to similar powers through Weapon Tricks.

I think the real problem we should think about are multi target Martial Techniques. In the old 3.x rules set multi targeting was less of an issue because:

(A) everyone already multi targeted as base attack went up. Thus multi targeting attacks were just an improvement of what PCs could already do. That is not the way A:RPG works with its clock. As a result multi targeting is relatively more powerful. And...
(B) melee characters only did damage so multi attacking with a weapon only scaled up damage spread out against multiple targets. Now melee characters have strong control options of their own.

There are elements of multi attacking AND control with melee weapons that I love. Not least is the relative parity with spell casters. But its possible that we need to look at the higher level MTs and how they interact with control abilities from all sources. Not just Arcane Strike (ie. I think its possible that there is a problem but I don't think the problem is just with Arcane Strike ...).