Cap'n Kobold
Hero
What about gaining back points when they roll a natural 20, or a creature targeted by a save spells rolls a natural 1? Not all points each time, but we can work out a normal frequency per fight, figure out what the right amount would be to get roughly the same power as Arcane Recovery, and then adjust from there.
That strikes me as an ideal area in which to have the subclasses differentiate themselves. So each subclass has different abilities to regain some sorcery points designed to reward the use of or behaviour associated with that arcane origin.
So dropping an opponent with necrotic damage might restore a sorcery point for a vampire bloodline.
A phoenix bloodline might regain one if it both restored HP and took fire damage since their last round.
Moving an opponent against their will for a Giant bloodline.
Etc.
(Although different abilities with tighter wording may be required if you haven't fumigated for munchkins recently.)