the whole idea is when you need to use cobalt and other high priced ore/bars you can just get ghost iron instead. It keeps the price of Ghost Iron UP and the price of Cobalt/Saronite/Obsidium/Elementium down.
I know Blizzard is doing the Virtual Realm thing, which should help with server economy, but as of right now, the catch up system is just replacing one grind for another on low-pop servers.
Last time I checked there is no Cobalt, about 2 stacks worth of Adamantite, a few Fel Iron, and a few overpriced Saronite stacks.
Gathering Fel Iron has become one of the tedious stages because of CRZ. The spawn rate sucks & there are too many people from other servers mining.
So now I either have to spend several hours in outland, or spend the same amount of time in Pandaria gathering thousands of Ghost Iron.
I'm going to level the profession, but calling this a "catch up system" is laughable. If my AH didn't suck, for the same amount of Ghost Iron & then selling that, I could level BS several times over just from the gold I would make.
It should be a 1:1 ratio at least up to 425.