Arc is not intended to be the next big thing. It is more intended to be the next big thing after the next big thing after the next big thing after the next big thing after the next big thing. In fact, the programmers for whom Arc is intended, haven't even been born yet ... heck, their parents haven't even been born yet!
So, cut the guy some slack! Designing a programming language is hard. Designing a programming language that stands the test of time is even harder.
I mean, sure, COBOL is still alive and kicking, but that's not the kind of immortality Paul Graham is looking for. He doesn't want programmers in 2109 writing Arc because they have to maintain some horrible legacy codebase, he wants them writing Arc because it's still the best, most beautiful, most enjoyable, most expressive, most powerful language.
If you are looking for a Lisp for 2009 (or even 2019), instead of 2109, then I second Brian C.'s suggestion: take a look at Clojure.