This has a very similar sound to the system I see in Guild Wars 2 (never played WoW, so can’t comment there), and I’ve got to admit; I don’t like it. There is no skill, no finesse to it, and its just so abstract.
I don't think the current crafting PROCESS is going anywhere. You won't be able to automate the production of high difficulty items most likely, so you'll still need to do it.