Agree with both of these.
Here are the only things wrong with your picture:
1 - Your health is too low. Militia archers should be doing less damage to you.
2 - Lamellar armor would have deflected arrows in real life. So if a compromise that works for you is asking TW to make arrows stick less often in lamellar, I would support that. Though you could always just stop looking so closely, since you have to press ~ to do that.
3 - Your character has too many exposed areas of cloth with no mail.
But if you were wearing mail and had 8-10 arrows sticking out of you I would say: "Looks completely fine".
Yes, that is how mail worked in real life - it's not our fault if it looks weird to you because you don't know your history.
You're wearing some of the best quality steel padded armor in the game. You absolutely should be able to survive a handful of arrows, it would be "stupid" if you couldn't.
Archers are overpowered, and the most realistic way of balancing them, that is also best for the player, is to reduce their average damage against same tier opponents from 4-5HTK to 7-8HTK.
Troop costs are largely irrelevant most of the time. You would have to double their cost, and if you're worried about things being "stupid," that's pretty stupid in itself. And it still wouldn't fix the problem of archers being too strong in combat.