I like seeing plugins that deal with post statuses because I hope it helps push for better custom status support in core (there's still a lot to be done). What I don't like are statuses like this showing up for every post type because not every status belongs with every post type. Instead of the rest of us plugin authors having to explicitly exclude this status, it would've been far nicer for us to be able to include it when needed.

Post statuses are only really useful in conjunction with the post type they're being used with. Each post type must decide what that status means to it and what happens when a post has that status. A general-purpose archive status plugin can't make those decisions without knowledge of the post types it's used with.

The "archive" status, as it's used in this plugin doesn't really do anything but register itself. Users can select it. But, what does that mean for the post? Registration is one thing. But, it's the implementation of the status that's important. For blog posts, I would imagine they should no longer allow comments. Maybe those posts should no longer show up in the main blog posts list. For forums, they should no longer allow threads and replies. For real estate listings, I'm guessing you could no longer purchase/rent the listing.

Implementation matters. What I would've liked to see out of a plugin like this is it registering the status for specific post types and making specific decisions about what happens when a post has this status. Overall, I think custom post statuses are practically useless without the post type. Any plugin that registers post statuses like this should be built primarily for blog posts and/or pages.