These games seldom get crafting right because they try to force a specific type of economy through crafting or item mechanics. They try to make crafting interdependence (ie, Woodworker can't make stuff w/o a leather work or blacksmith providing components), then try to limit how many crafters you have
This game seems to be using this with the revelation you can only have 1 master crafter and maybe a bunch of less skilled crafting. I wouldn't be surprised if this basically shakes out as: All the noob shit will use the stuff you can supply yourself if you level the stuff sub-master, but anything worth a shit will require master crafting+. This gives coordinated guilds a leg up, since they usually will force specialization so they can do everything in house. This side steps the economy, beyond them creating an early monopoly and throwing the occasional bone onto the market to generate funds (usually at an inflated rate). Unfortunately, this also gives RMT operations a massive incentive to exploit and inflates the value of gold farming, which ends up doing more damage to the market...you either get hyperinflation, or an economy where most of your playerbase never really gets to participate.
He's basically trying to replicate AA or L2, but the economy in those games got all sorts of fucked because of a combo of RMT and difficult barrier of entry to actually make gold (the later driving the RMT....when your options are run high risk packs for days and still not have enough gold to buy something, or you spend $20 on a shady RMT website, you're going to find more and more people being driven to the RMT means of making up for ingame mechanics that limit legitimate ways of making money).