That arpeggiator is the best, man! At 1:42, there's another one that comes in and things get jarring... I'd say less is more here, and either remove it and add some other complex ambient texture to support the main arp, or rework the progression to be simpler, it's too dense.
It feels like you have a lot of room for rhythmic effects... stutters and flanges and similar things. It comes a bit later in my workflow, but I thought I'd mention it. Maybe wait to sidechain the pads until the music has developed a little bit further.