Beatmania IIDX still has Nemesis in newer games, so imo yeah it should be in the arcade DDR mixes. Hopefully future DDR A20 PLUS updates bring this song back or a future arcade DDR game, but unfortunately I doubt it will
After doing some research, I found that this song appears in Beatmania, and all four of the DDR Ultramix releases as dlc, in addition to making an appearance in DDR festival. But to answer your question further, I thought the same thing when I discovered the song four days ago. I think it sounds familiar because it uses the electronic sounds present in many songs of the late 90s/early 2000s. This piece sounds like a quintessential 2000s song; maybe that's why it's so familiar to us.