It's pretty popular in web servers. You create a new area per HTTP request, and then everything you need for the context of that request, you allocate from the arena. When the request is done, you free the entire arena.
Nginx does this. As does my Passenger application server.
Apache... kind of does this, but it fakes it. It allocates every object individually, and the "arena" is only used for linking all those allocations together so that Apache can free all of those allocations (individually). facepalm
Instead of freeing it you can just keep zero it out and keep it. That way you don't have to allocate memory for the next HTTP request. IIRC this was how Varnish managed the per thread worker memory.
You can use it in all kinds of producer-consumer designs, but this seems quite dangerous in Go. It's like making a huge effort to remove all the safeties and then aiming at your foot.