No, just no. First of all, it costs points, now that would be worth it if a shield would be effective.
1 point. Easily worth it over 2 hp.
As a 2h meleer with a shield you will have to put the shield away to fight, which is 80% of the time, after the initial run to the fray.
In the fray use bodies or other shielders for cover. Leave the shield on the back most of the time, but when you are alone or charging archers bust it out. Simple.
When youre not fighting missiles are pretty easy to dodge anyway, just spasm with your mouse. I mostly get hit while fighting, when I would have holstered my shield.
I also get hit the most by other melee when I'm teamed up on. Funny how that works, this crazy teamwork thing
But really you can take steps to avoid this. If I'm in a melee fight while archers are shooting at me I try to position myself "behind" the enemy so archers will have a hard time hitting me. Otherwise work on adjusting your footwork and sticking close to the enemy melee - the archer will be forced to reposition/stop firing lest they risk hitting their teammate in which case you get a free hit.
As an archer the easiest time to hit people tangled in melee are when they are backing away or moving forward for a swing. If you focus on circling or sticking close I don't even bother risking it.
Also you can get caught off guard with your shield out at close range, which will grant the enemy a hit when you switch.
Don't... be... off guard? I don't know why that's part of your argument.
Overall a shield for arrows as a 2h is detrimental to your performance. Being a 1h shielder is just plainly boring.
I'd rather be alive and worry about that problem, than being dead to ranged. Besides there are plenty of 2h weapons that can be used with a shield.. of course that would only be a temporary thing but this also allows you to fully push onto ranged with the shield up and still be ready to kill them without having to sheath the shield.
E:
Fun fact: I'm 2H right now and I don't even use a shield.