I don’t have that much of an issue with Attack Rating, honestly. In my experience, while AR does reduce your amount of hits, the actual main source of misses is block, with a lot of monsters having a high amount of block.
It’s not hard at all to have over 70% on almost all monsters. The issue comes when they have high block, a huge amount of them have 30% or more block chance, some up to 49%. Plus the act bosses have 40%+ block. It’s way more impactful than missing because of AR.
All that being said, I find the calculation a little frustrating. The biggest difference in AR effectiveness is when it’s close to the enemy’s defense. After that, you need increasingly large differentials to have an impact. Plus, even if you have a massive amount of AR, you can simply be limited in chance to hit by the fact that your opponent has a higher level than you.