The other part of archer's paradox, which you can see if you look closely at TJ's excellent picture, is that the bow hand moves slightly to the right when the arrow is shot (for a RH shooter), from the initial pressure of the arrow against the strike-plate. This is another reason the arrow flies toward the target even though it is pointed to the left of the target at full draw.
This effect is noticed when shooting an arrow from a shooting machine that doesn't allow the bow hand to move to the right, which causes the arrows to impact to the left.