It's more than arrogance. It's narcissism.
I agree. There was a moment last summer that was particularly poignant to the narcissism charge. When O came out with how much gas/oil Americans would save if we all just kept our tires inflated, many (even in his own party), scoffed or laughed it off as silliness. He came out within a day or two, repeated his claims and chided every one else for being wrong. The media tried to give him some cover, but finally dropped it. A narcissist doesn't take kindly to being told they are wrong.
Obama has attained the most powerful position in the world: POTUS. Let's say he is able to hold on for 8 years, what's left for him?