Aristotle seems to have been insidiously wrong on just about every topic. Why should his views on happiness be any different?
That his scripture was treated as canon by the christian church and not subjected to further scientific inquiry is one of the foundational stories of the modern science. That story is certainly not wrong though it lacks nuance. It is also where Aristotle’s bad rep is mostly from.
Aristotle‘s position on many topics is simply the first one uttered as far as we know. It is interesting because it is the start of a conversation, not because it is right or wrong.