Even without this law, no child has willy nilly access to hormone therapy or other transition related treatments. The amount of hoops anyone has to jump through at any age in order to be approved for transition therapy would stop that from happening. Arkansas' legislation is at-best trying to solve a problem that doesn't exist and at worst is depriving people who can prove that they qualify for transition therapy the treatment they need and thus causing undue mental stress and psychological damage.
I meant to say not having access to transition based surgery isn't unreasonable. The other stuff is overboard
But unless there's a severe obvious biological defect, I don't think you should be able to consent a young child into gender altering surgery.
The hormonal excrement surely has issues too, but at least that's not nearly extreme