What makes this film a decent watch isn't the time loop at all, but how each loop you get little hints about the couple experiencing a home invasion, and the fraught political situation of the world they live in.
Time travel is a common trope in science fiction, employed to change the past, but ARQ is nothing like 12 Monkeys or Looper. Science fiction lovers will remember "that time loop episode" of their favourite science fiction show. This film is not concerned with whys/hows, and doesn't preach about time manipulation; the machine is only a tool here.
This plays a lot like an extended short film, as each loop is a (slightly different) slice-of-life perspective. I agree with reviewers who say it feels like a pilot (the ending supports this), but disagree that it would make a good series. I think the current length is designed to make you tired of the loops but not quite tired of the actors. The team did a great job of doing something a little different, moving a little faster each time, so you can see them adapting emotionally to the looping.