Yeah, he was a bit cocky and quite confident even in the film. But he was very young and a competitive "warrior". A similar argument could be made for career military guys going into politics.
He felt on top of the world back then, and for good reason. He comes here to America and besides being blessed with superior genetics, kicks all of our asses when it came to everything from work ethic to psychology and a positive attitute some would classify as insane.
He felt as though he could do anything and said so. All he saw around him were lazy Americans who had quasi-ambition and all wanted to have success in 5 easy steps or end up quitting. And he had a blast doing it all to top it off. He mastered his mind as much as his body and he felt something like a god.
No surprise he said and did a few of the things he did back in the day.
But he has grown up since then, in case you hadn't noticed. Even since his last term, he has become wiser.
He studied hard for a solution and now put forth a plan to give all Californians health care. If he were a democrat, he'd be on the nightly news and on Oprah and on the cover of Newsweek and Time. Instead, he gets critisized for it from everyone who has to make a sacrifice to make it happen. And instead of giving him credit for it, they change the subject to how he wants to get more people off of welfare and how it's going to starve kids.
Arnold is an achiever like America hasn't seen in years. And instead of honoring his accomplishments, we poo-poo them and nitpick, probably out of guilt for being born here, speaking clear english, and still not accomplishing a damn thing of value to society.