Really they should just make food craft in batches, similar to how it is in XI.
EX: x10 the current mats for x10 the food.

That being said I think the EFFECTS of food are good as they are. They are still pretty much required for end game raiding, and they are balanced in that they increase several stats by 4-7% rather than increasing one by 21%. I dont think they should persist through death (giving cooks a viable market, and more incentive not to die). My only problem with it is i have to spend hours crafting food in order to make enough for my whole raid.