From https://www.protocol.com/browser-company > Agrawal decided early on not to try and rebuild the whole browser stack, and based Arc on Chromium like everyone else. Ladybird this ain't. More like YACI (yet another chromium implementation).
Seriously the fact the "I made a chrome wrapper" is apparently worth millions in VC funding remains absurd to me.
I don't love Arc -- I bounced off it pretty fast -- but it's not insane to think that a VC would see the reuse of the most common browser engine as a good thing, as it means less work on the part of the developers and more of a focus on what sets the browser apart.