It would probably be the subject of fewer jokes if pg wouldn't mention it so much when it's still in stealth mode.
It seems like every time a "How do I use Lisp/Scheme for my site?" topic gets posted, pg mentions something Arc does well that current Lisps don't, but we never get to see any of it.
I'm not complaining, or asking for him to release a beta when he's not ready, or anything like that. But it's human nature to get annoyed when someone claims to have something awesome and won't show you it.