I was surprised too!
While I could find some excuses to exclude ARIMA, notably that in practice you need to input some important priors about your time series (periodicity, refinements for turning points, etc) for it to work decently, "prohibitive compute and extensive training time" are just not applicable.
That part is a bit wanky, but the rest of the paper, notably the zero shot capability, is very interesting if confirmed. I look forward for it to be more accessible than a "contact us" api to compare to ARIMA and others myself