That's not correct. Kings Island did not revisit the suspended coaster immediately after "The Bat" failure as you imply.
Top Gun (aka Flight Deck, and now The Bat) opened in 1993, ten years after the original Bat closed. By that time Arrow had built eight other suspended coasters, the first two successful ones were XLR-8 at Astroworld and Big Bad Wolf at Busch Gardens Williamsburg in 1984. In fact, Top Gun was the last suspended coaster to ever be built by Arrow, but it and its sister coaster Vortex at Canada's Wonderland are the best ever.
I would also disagree that they are the father of the "inverted coaster". An inverted coaster by definition is very different from a suspended coaster. The only similarity is the position of the track above the cars. It's very important that the "inverted" and "suspended" types not be confused because they're distinctly different rides.
It's a shame you didn't touch on one of Arrow's biggest accomplishments the Mine Train coaster. In some ways it's their signature roller coaster and really kick started the demand for modern steel coasters.
And mine trains are still my favorite form of roller coaster, so if arrow gets any credit for the creation of the majority of those..... then I am especially going to miss Arrow in the future. I guess that explains why you don't see many new mine trains coming out anymore (It's not exactly something you'd expect from B & M in their everything is so grand style of doing things).
Unfortunately, I don't know if that was ever true. Many at the time, myself included, thought it was just another stretched out Arrow looper. Sure the top of the loop was taller than any other, but it was the same loop Arrow had been using for 10 years. There was talk at the time if this was the fault of missing R&D at Arrow or the fault of Six Flags for ordering yet another coaster that could be built quick and cheap.
Arrow definitely revolutionized the modern American coaster and I am very sad they are no longer around. As others have mentioned, beyond the original corkscrew, there are probably better things to remind us of Arrows achievements.