Are Hand Cannons too weak?

Are hand cannons better against infantry than arbalests, and is it enough to justify their higher cost?

0:15 Why arbalesters might be better vs infantry
1:40 Comparing hand cannon vs arbalester stats
2:02 Bonus damage and other hidden attributes
2:52 Which is easier to micro?
3:35 Hand cannoneer upgrades vs Arbalester upgrades
5:05 Comparing damage per minute against infantry
6:07 How I value their resource cost
6:43 Comparing their value (DPM/resource) against infantry
8:44 Eagle warriors and Huskarls
9:35 Hussar, Paladin, Skirmishers
11:22 Civilization bonuses

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Game: Age of Empires 2 Definitive Edition, with Forgotten Empires, African Kingdoms, Rise the Rajas, and Last Khans expansions