Your opinion on; Arcane sight negating blindness penalties against creatures carrying magical items.

So here's the situation, without giving to much away because I know at least one of my players comes on here semi-regularly but I trust they won't meta-game much; An attacker has permanent Arcane Sight active and the encounter takes place in an environment that reduces visibility to 5-10 feet. Should the attacker suffer the same penalties for not being able to see the target or should Permanent Arcane Sight act as blindsight against those carrying magic items?

Any thoughts are appreciated. :)