Arbitration is fine for two equal parties when a third party neutral arbiter is chosen. I've been through that kind of arbitration and it was great.
But when the huge company gets to pick the arbiter (or even just threaten the arbiter with taking away all their other cases), that is when you have problems.
I'm not the right person to explain English history, secret courts, and the American revolution. Suffice to say, public courts a vital check on the power of the state by way of the court of public opinion. The real final court of appeal.
Food for thought (not specifically relevant to this case): I wonder how much would go away if the US had universal healthcare, or to put it another way, how much of its legal system is spent figuring out who pays for medical treatment
If there's a sports match, shouldn't the sports arbiter be able to decide whether some team scored a goal or not?
These are all valid civil contracts. It only affects the civil claims, never criminal, and the venue for disputing the arbitration clause (if you believe arbitration wasn't legal to begin with) are the public courts anyways, who will delegate or not to the private court.
Almost all countries recognize it and it has a quite defensible theory.
To the extent that you believe it is forced, you can dispute it on a public court, and if you can prove you were forced, you wouldn't be subject to arbitration.
Arbitration in private courts only exists if both parties agree prior to agreeing to the contract to that clause.
If you believe that it's forced because you never read the Terms of Agreement, I feel that's more of a discussion of whether clickwrapped terms are valid or not, it would be a way more radical position to believe that they have absolutely no effect. And if they do have an effect, agreeing to private arbitration is no different.
The line that minimum should be against using this as a tool against consumers. To the extent it should exist at all, which is arguable, it must be between parties that are either equal in standing or have genuine commercial disputes between duly organized business entities.