I think you have legitimate concerns, but to be fair the squish already happened, the numbers just haven't caught up yet. You can already craft current-expansion items starting at crafting level 1, and those crafts generally award 3-5 levels each. So squishing the ranks from 800 down to 100, doesn't functionally change anything, it just allows crafts to only award 1 skill point per use, instead of 5.
Special note: The two Darkshore changes will only take effect after the current Warfront cycle has ended. So if Alliance is attacking Darkshore in a given region when Season 2 begins, and has 3 days left in that attack cycle, that Darkshore will still give Season 1 rewards. ◦This is being done to avoid any unfairness to people who had already completed the Warfront or done the world boss just prior to the season rollover.
If you're willing to dedicate, get tailoring for increased cloth drops, and look at group finder. Under custom search for "boe" and try to find and join a 2x4 farm group. It's basically just hours of leading npcs into a grinder for loot, but you'll make 20-40k an hour from cloth depending on server prices, and on average every 2-4 hrs you'll find a boe epic worth 80-250k, if luck permits.
currently sitting at around 1.1-1.2m gp on my toons, a bunch in my mailbox (i like to clear sold auctions at the end the day), and 3 sky golems to sell. Not to mention i've bought myself a token, and given my brother 2 (he agreed to buy bfa for me vs 3 tokens), as well as blowing 250k on mythic boosts. I knwo others have done way better (hell i knew a guy that had made 4m in like 3 days during the DMC boom) but i'm pretty happy with it
Highmountain tauren - "Descended from Huln, brave hero of the War of the Ancients, the Highmountain tauren honor the spirits of earth, river, and sky. Though the Legion invaded their lands and sowed seeds of distrust between them, the tribes of Highmountain stand united once more. At long last they are ready to venture beyond their sacred mountain and stand beside their kin from Kalimdor, lending their nobility and strength to the mighty Horde."
Another dungeon farm, this time in Uldum, Tol'Vir trash mobs drop loads of embersilk cloth. Stacks of this tend to sell for a tidy profit, though prices vary depending on the realm. A typical clear of the dungeon takes about 5 minutes, netting about 7.5k per hour in cloth, vendor trash, and various other drops like mats and BoEs. Pick up a Potion of Treasure Finding and farm to your heart's content! It's just as profitable on normal mode as heroic, too, making farming all the quicker and easier.
Allied races aren’t much better. You can only earn them by grinding out reputation. It doesn’t take that long but casual players will need to invest a couple weeks primarily to it, and focusing on that grind will take you away from others, like earning gear. Each race has its own grind, but the things you do to work through it remain the same, adding to your boredom.