Next, Enormous amount of mats? 4200 Ghost Iron Ore. That's it. Look at Depleted Kyparium Rocket or Turbo-charged Flying machine or the mechanohog, all have more complex recipes with mats requiring you to go to a vendor to get. Let's be honest I bought a bunch of Hula dolls because who wants to go to Shattrath anyway but c'mon. What you're saying is just not true. Its simple, its quick, and the procs aren't random (I transmuted 100 Trillium bars last night and got 122 bars). Most people don't need the procs, but optimizing allows you to make more gold, and ultimately this is a goldmaking subreddit. If you don't want to follow the advice, don't join that market.
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A "stat squish" and "item squish" was implemented to lower the numbers used in the game, e.g. a legendary item previously with a level of 1000 reduced to 265. Unique class-specific buffs are added back, i.e. mages' Arcane Brilliance and priests' Mark of Fortitude. Titanforging—a random event that raises the initial item level of an item gained via drops or rewards—is still in the game; however, if the item is one of those affected by the Heart of Azeroth, then that item cannot be titanforged.
I think that's server dependant. I make a lot of Golems, but the price on my server is high enough that you could buy all the living steel and still make about 20K (almost 200kg on AH). Its just that you proc all the way up the chain. You proc 20% of your trillium, and then 20% of your living steel. SoH and Ghost Iron are such low effort farms, too. 20% of 180 Trillium Bars at 500g is 18k more profit, 20% of 150 Living Steel at 3500g is another 105kg. That's an extra 25k profit per Golem. If they stop selling stockpile them for the next expansion, they always boom with the price of herbs. And a consistent 20% proc rate is the opposite of RNG, its extra free stuff as a benefit to completing an extra quest (not to mention for new alchemists the investment of leveling Vanilla Alchemy). You're looking for some get rich quick scheme, where the real way to build wealth is patience and volume. No market is going to be viable because you want it to be. Only because you make it viable.