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It is really, really a stark change of pace from WoD and Legion where just questing and killing things would result in at least a small but decent profit from a day's activities, typically of at least 1k and often 2k. But now to get that sort of return, I have to really focus on gold WQ's, not spend any money on anything that I don't absolutely have to, and do 45 minutes of Legion content.
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Allied races: Our new allies will join the factions and players will be able to unlock the ability to play their race. There are 6 planned for launch. Horde: Nightborne, Highmountain tauren, Zandalari troll. Alliance: Void elf, Lightforged draenei, Dark Iron dwarf. Additional races are planned for the future. Receive a Heritage Armor set, if you level an allied race character to level 110.[5][6]
Set sail for the previously unmapped isles of Azeroth. Battle in groups of three as you race against cunning rival intruders—or enemy players—to collect the island’s resources. Constantly evolving challenges await as you traverse frozen landscapes near Northrend, open the gates of an abandoned Gilnean castle, navigate a war between elementals and more. Tides of Vengeance adds two new Island Expeditions to the mix and two new random events, as well as updated rewards.
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For what it's worth, I like the leveling changes, but I also think that the profession changes are beneficial. Once they removed the utility of most professions; it became more of a hobby. Crafting should be fun. When it gave perks, it was fun, but Blizz, correctly, decided that it was creating forced gameplay (min/maxers always picked certain profs). So they changed it. Well when a prof doesn't give you any gameplay perks AND it's tedious...it's not fun. Especially if you're starting from scratch and outleveling your profs because you're blowing through levels so quickly.
Tbh high prices of enchants / gems / flasks / augment runes / food buffs are mostly an opportunity for casuals to make gold. Majority of them don't use these for themselves. How often do you do casual content and see casual players use flasks, gem and enchant their gear? I rarely do. It's common to pug a normal raid or similar content and see people ungemmed / unenchanted and using no consumables unless someone drops down a feast. It's simply not necessary and not required in casual content and people don't bother. Not even mentioning more casual levels like lfr and open world content.
Set sail for the previously unmapped isles of Azeroth. Battle in groups of three as you race against cunning rival intruders—or enemy players—to collect the island’s resources. Constantly evolving challenges await as you traverse frozen landscapes near Northrend, open the gates of an abandoned Gilnean castle, navigate a war between elementals and more. Tides of Vengeance adds two new Island Expeditions to the mix and two new random events, as well as updated rewards.
Like I said, engineering is the best when you aren't worried about making gold. The Loot-a-rang is super useful, nitro-boosts are nice when they don't fail, and the glider cape enchant is nice too... you get wormholes to Pandaria, Draenor (make sure you have a glider), Legion, and Argus (as well as a couple old world teleport locations)...Jeeves (and to a lesser extent Reeves) and MOLL-E are also super useful (bank and mail access anywhere, repairs, etc.).

Why are you saying this would cut your margins down? If anything, it would increase your margins because all those scrapper mats are gonna be sold on the AH driving down the price, so each item is less expensive for you to craft, so your margins get bigger if keeping the same sale price. So long term this would probably drive down your sale price just due to supply and demand, so you would have to sell more to keep the same income, however that’s unrelated to your margins.

Mythic+ rewards will also go up by 30 item levels; however, during the first week of Season 2, rewards from end-of-run chests will be capped at Mythic 6 quality (item level 385), and the chest you open next week will contain Season 1 rewards if you do a Mythic+ run this week. (So, for example, if you do a Mythic 10 during the final week of Season 1, you’ll get a Season 1 item level 380 piece and 60 Residuum from your first Season 2 chest.) 
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