They say they are hard and competitive. But do they fall to the other side of the line more often than not while playing? I would say "Yes" as well as "No".
Yes, because I am an Indian and in recent past they have been involved with non-cricketing issues with Indian team members only. At those times, it feels like they are rude, arrogant and snobbish all at the same time. They sledge at people and when people sledge back, they feel bad about it and run to match referee to interfere. They cannot take other people's spit-at-the-face attitude while they are ones who started it all. I was most hurt by Andrew Symonds column in an Australian paper on returning from last Indian tour, where he took shots on everything about India - its people, its crickets, its climate etc... Well, if you feel so bad about India, whey are you then signed up for IPL?
Now to the other part - No, because this is the way their society is. They are born and raised tough - unlike Indians. Parents there take their kids to fishing & sailing trips which is unlike us. This is the way their treat their life and their sports and they are competitive about it. It would be pretty hard for us to understand what they are like. One thing is for sure that they love their cricket.
Overall, I think there is surely some extent of arrogance in Australian cricketers - especially after Steve Waugh left the stage. And it is easy to be arrogant when you are successful.