Binary package libarchive-3.3.1-5-armv7h.pkg.tar.xz available on the mirrors has an empty .MTREE file. Rebuilding the package manually from source fixes the problem.
Trying to install to a new target but can't get past the error (error while reading mtree of package /mnt/var/cache/pacman/pkg/libarchive-3.3.1-5-arm.pkg.tar.xz: Unrecognized archive format) for the base system.