As Timo said, firearms are easy (ish) to use, and don't depend upon the muscular strength and/or dexterity of the operator, at least not to the same degree. The arquebus was, moreover, much cheaper to make and operate once the supply of powder was reliable in Europe and the art of producing small-arms had begun to stabilise a bit. Arquebusiers didn't require constant practice and training to remain proficient, or at least, not to the same extent as did bowmen. In addition, the supply of suitable wood for producing the Welsh longbow (which, of course, was taken from one piece of tree, often yew) was rather less than the supplies of suitable wood and metal for making small-arms.
The longbow was one hell of a weapon, but it was ultimately a technological dead-end. Firearms freed armies from reliance upon muscle power for the majority of their firepower, and made it possible to raise large armies of fairly quickly trained infantry who could still reach further than could any armed for hand-to-hand battle.
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