There is nothing wrong with the ARC approach, and it can in fact help despite the widely-held opinion that it is snake oil. (Ethan Winer has called ARC "a joke".)
You just have to be aware of its limitations.
It cannot "correct" a room. Its effect is only valid in the mix position, and in fact might make your output sound
worse to listeners positioned elsewhere in the room.
It cannot compensate for a resonant null. No equalization scheme can. A null is a null is a null and it doesn't matter if you blast that frequency out at jet-engine volume, the null remains.
You should not think of ARC as a substitute for acoustic treatments, but rather as a way to augment them, to reduce the worst resonant peaks that your traps cannot fully mitigate.
I'd like to add that if you're not willing to spend the money on ARC you can achieve the same result with an inexpensive outboard parametric equalizer such as the Behringer FBQ2496 and a little manual testing and tweaking. Not only will it cost less, since it's a hardware rather than a software solution you also avoid the CPU overhead.