Yes, but you're not exercising them smartly. I'm not a fan of OC'ing long guns simply because the general public barely seems to be able to handle handguns. An AR is just adding shock value to open carrying, which is counter productive. That being said, I respect a persons right to carry whatever they like (legally).
There are MANY people who think open carrying a handgun is not "exercising them smartly" and think you should always conceal it. Reference the 12 times I've been detained by police while OCing a handgun. Reference the MANY ballistics reports showing that a handgun is not a very effective self defense tool due to it's lack of power. Reference the reports by just about all defensive firearms instructors that universally agree that ANY long gun is better than ANY pistol in a gunfight. The ONLY reason why we carry pistols instead of long guns is due to the size and weight restrictions we place on ourselves for our chosen defensive tool. If someone is more concerned about their protection, and less concerned about size and weight, then the best defensive tool is a long gun, and the best defensive long gun in most situations is a high capacity semi automatic intermediate caliber rifle.
To be completely honest, when I carry a firearm, I don't choose what I carry based on whether I think the general public will accept me. The general public accepting me is not my concern. Carrying a firearm isn't about being liked. If you're carrying purely for political reasons, then you need to rethink whether you should be carrying at all. I carry for my defense. I choose open carry because my research has led me to believe that open carry is better than concealed carry for executing the task of defense. The only reason I don't carry a rifle is because it's too damn big and heavy, and because my choice to be a member of this forum leads me to want to follow this forum's rules.
Now, let's discuss how someone OCing an AR might affect how the public views us as handgun carriers. I would argue that it might make them LESS upset with handgun carry. ie. "well at least he's not carrying a big scary assault rifle like that crazy guy I saw last week." It's the same principle that the progressive's use against us. They propose outlandish and far reaching legislation, then when we complain, they take a smaller incremental step instead, and we think we won, when in reality, we still lost.