Fun fact: I completed the last mission today and took the Arbiter (in fact, I just unlocked her, I plan to actually take her tomorrow when the Summon Rush starts). You know: the more - the better. You should not miss an opportunity when you are a f2p. (edit - I just realise it's "rush" event, so no point to wait to claim her, lol)
To answer some of the OP's questions, or rather his doubts about whether it's worth it, is it possible, etc.
Judging by the time of registration in the forum, I'm in the beginning of the eighth month of play. I have not spent a penny during the time I've played. I haven't bought any packages, passes, Amazon reward or anything else so far and i plan to continue this way. The reasons for this are purely ethical - I like the game but i don't like Plarium and the way they run the game and treat their fan base, but this is irrelevant to the topic. The point is that I am a entirely F2P player.
Does Arbiter worth the efforts at this stage of the game? It is different for everyone i guess - for me she will fit well in my arena team and in some of the dungeons for speeding those runs. Especially for my Golem team she will be of great value, for my arena team she will replace my 5/50 Golden Reaped for extra turn meter.
Does path to Arbiter is easy/hard/impossible? For me it was easy at the begging, pain in the ass in the middle and start to get source of enjoyment and steady income (energy, gems) when i start to observe what awaits me ahead and start to plan accordingly. If you run blindly without any preparation and thought involved you will face many hard walls which you can avoid with little planning.
The worst parts of this progress mission are those which do not depend on you, you don't have any information, you can't be prepared and for which you can do nothing - that part when you need to ascend 6 rank champion from every affinity and they didn't count already ascended champions, even that you may ascend them literally half an hour before that. The way Plarium manage that part without any info in advance to help people avoid this frustration is.... i don't know how to put this right without getting into rage mode.
The other part is f@cking auto part and champions AI. I can beat Spider 20 in manual in about 30 sec or less but It took me two, three weeks or probably more, tons of silver, energy and countless tries of switching gear, champions, tuning speed and more, just to overcome champions abysmal AI. Well, that part WASN'T FUN AT ALL! You didn't feel like you fight against that difficult dungeon boss or something, you just fight against bad programmers mistakes and that's something that didn't feels right.
So... yeah i get her. Are seven months a long time to get an Arbiter if you are a f2p account? I don't know and it doesn't matter. What matters is that it is not impossible and not too difficult in case one wonders.