Since the characters in the game don't have the full range of motion a normal human can have, I fully welcome that in some cases the trajectory is a little more generous and in our favour. A normal human could lean to look over a ledge, or momentarily elevate themselves to shoot over an obstacle - characters in BG can't perform these minor acrobatic movements but they can still make the shots thanks to the arc.
This is already effectively accounted for by being able to target any part of the enemy for attack rolls: if you can see 1 square inch of their body, you can attack them with no cover penalty to AC. So we're double-dipping by also getting the loose trajectory arcs.
Additionally, I presume there's some cases where the exaggeratedly slow and lofty trajectory goes too high and hits a ceiling or other overhead obstacle, making what should be a straightforward shot impossible...? Idk if the game flattens the trajectory to account for this...
I still don't think that the targetting line accurately represents the trajectory of the subsequent shot, because you can miss the shot. Clearly the arrow can take on a different path after the attack is rolled.
You think this partly because Larian has coded every failed attack roll as a "miss!" When in reality, sometimes you are hitting the target but their armor blocks it or the enemy dodges out of the way. In either case, the missile follows the trajectory shown.