A typical RC implementation suffers from either requiring to do AddRef/Release calls manually (what Apple had in pre-ARC era), or blindly doing too many automatic calls. That's ancient history and can not complete with a moderately decent modern GC.
ARC has neither of those disadvantages and so provides convincing alternative to GC, and AFAIK is the first and unique to do so.
BTW, the correct term to use here is "automatic memory management" (AMM), not garbage collection, and there is no such thing as "proper" AMM. Handling circular references is not a must-have property of AMM, it is just the price RC pays, in GC, that will be pauses and higher footprint, and other approaches exist too: for example, to disallow in compile time to create a structure that can be potentially circular.