If the game focuses on raids as the main source of end game then this is pretty much a guarantee that crafting will be obsolete at max level. Crafting gear will never, NEVER be better or even on par with raid gear, the only exception will be is if a recipe drops from a raid and the item created by the recipe is BoP (Bind on Pickup). But you will never see a crafter craft raid equivalent gear that is BoE (Bind on Equip) because if this was the case, this would allow many non-raiders to bypass raid content for top gear.
The Only Market That Matters
With 90% of all crafts prior to max level being virtually useless, the end game becomes only a niche market for crafters. But the problem is every other crafter will also be focusing on end game crafts and according to the laws of economics if there's an abundance of supply in the market, prices will fall. Naturally, this will be okay but the problem that arises is the fact that gear can obtained from other areas outside of crafting.
A non-crafting player can easily obtain his gear through other means such as reputation vendors, dungeon drops, or even random world drops. Not only does this crate a over-saturation of supply for gear but it also establishes price ceilings on gear. If a reputation vendor sells superior piece of gear for 5 gold where as to craft a piece of gear of the same item level costs 7 gold, it is more beneficial for a player to buy the NPC gear because a crafter will not be able to sell at a competitive price unless he was able to reduce his costs below 5 gold.
The Gathering Myth
There is one thing I like to point out. Many people seem to make the claim that if you gather your mats, use the mats to make the item and list it on the AH you will make a profit, however; this statement is misleading. If you find yourself gathering mats in order to make a profit from crafting, you're better off selling the mats directly. Why? Because of the opportunity costs. You have to factor in the time you take to gather the mats as a cost associated into crafting items and if you notice that the mats you farm are worth more than the finish product then you're better off selling the mats than the item, otherwise you're losing money on potential profits. Also lets not forget that commodities generally sell much faster than finished products which means you can constantly re-farm more materials for more profits without having to wait an extended period of time. Always remember this, time is money.