Meriting recycle is meriting "I'm too poor to afford ammo". Only gimps merit recycle.
Believe it or not, many people do cite cost as a reason they do not use things like kabura arrows all of the time, so... technically if Recycle does anything to alleviate that mindset and gets you to use more expensive ammo for something where you otherwise wouldn't have, it is improving your damage. Also, having to stop to use a quiver and reequip the slot does temporarily stop my attacks and lessen my overall damage, so having Recycle would mean I'd have to do that less often.
Personally, I think any decent RNG has an easy enough time doing enough damage to rip hate on most stuff anyways if they really try. That being said, I'm not sure why an attack that gives you increased enmity is really considered essential, but I guess it all depends on what you usually bring your RNG to fight. Another thing to consider is that most NMs nowadays go down quickly enough for you to only be able to use this JA once, whether you have it merited once or 5 times. Like I said, I often don't fight things that are higher level than XP mobs, nor do I fight many things that take longer than 10 minutes to beat, so I don't see Flashy Shot being very useful for someone like me.
I like how you think your way is the only correct way to merit, though. I wouldn't have expected anything less extreme from someone like you.
As others have said, Snapshot is really the only must-pick of the group 2 merits in my perspective, and even then, if you're some hardcore K-club RNG or something that typically only shoots to WS, even this isn't a sure thing.