The Bow is good when you can mass things together in large amounts - Towers on Crete, or any ranged unit spam.
When you have large amounts of ranged units together, there will quite often be high amounts of overkill on single targets. By reducing the damage dealt but increasing the firing rate, you will have less overkill and thus more units being killed overall, so it's highly effective.
Thus, for pretty much every single ranged unit that you mass, Marduk will be better.
With Forts, you aren't ever going to be able to mass enough forts so that they generate any amount of overkill, thus Marduk is equivalent to Master Hunter in terms of damage output.
With Towers, yes, the attack speed is extremely useful - Keep in mind that Celts with Bathanos are one of the better Crete civs nowadays