In recent years, transition metal dichalcogenides (TMDs) have garnered great interest as topological materials -- monolayers of centrosymmetric $beta$-phase TMDs have been identified as 2D topological insulators (TIs), and bulk crystals of noncentrosymmetric $gamma$-phase MoTe$_2$ and WTe$_2$ have been identified as type-II Weyl semimetals. However, ARPES and STM probes of these TMDs have revealed huge, arc-like surface states that overwhelm, and are sometimes mistaken for, the much smaller topological surface Fermi arcs of bulk type-II Weyl points. In this letter, we use first-principles calculations and (nested) Wilson loops to analyze the bulk and surface electronic structure of both $beta$- and $gamma$-MoTe$_2$, finding that $beta$-MoTe$_2$ ($gamma$-MoTe$_2$ gapped with symmetry-preserving distortion) is an inversion-symmetry-indicated $mathbb{Z}_{4}$-nontrivial ($noncentrosymmetric, non$-$symmetry$-$indicated$) higher-order TI (HOTI) driven by double band inversion. Both structural phases of MoTe$_2$ exhibit the same surface features as WTe$_2$, revealing that the large Fermi arcs are in fact not topologically trivial, but are rather the characteristic split and gapped fourfold surface states of a HOTI. We also show that, when the effects of SOC are neglected, $beta$-MoTe$_2$ is a nodal-line semimetal with $mathbb{Z}_{2}$-nontrivial monopole nodal lines (MNLSM). This finding confirms that MNLSMs driven by double band inversion are the weak-SOC limit of HOTIs, implying that MNLSMs are higher-order topological $semimetals$ with flat-band-like hinge states, which we find to originate from the corner modes of 2D fragile TIs.
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