Why it was okay that fel iron and cobalt were annoying to find
Once upon a time when leveling took a while, it was not unreasonable to need a lot of a crafting material to level the profession. You'd be out in the world so much that you were bound to get what you needed. Ores such as cobalt were widely-dispersed and tricky to gather without flying mounts. Yet you got them.
Upon hitting the cap, you likely needed the other ores more. So there were more of them. Saronite could come out the wazoo. Adamantium could also come out the wazoo. Meanwhile, fel iron would remain persistent even in higher level zones because it was still needed for high level items.
These are all fine and dandy when you're in a leveling-capping situation. These days, it becomes a problem. You may level out of the cobalt zones before you've naturally farmed enough. Then you're in the saronite-flooded zones for plenty long, a situation made especially noticeable thanks to the level 80 start on Cata, rather than the 58-60 or 68-70 that could fudge the starts and ends of continents a bit. So you have saronite out the wazoo, but there aren't capped crafters setting ten dozen stacks of saronite ore on fire to make a single "Boots of the Pretty Good That Can Get you Started on Raiding".
There are two ways to fix this. One way is to slow down leveling. The other is to replace some saronite with cobalt. My money is on the Third Way: ignore the problem.