AS IS ME NO LIKE, SORRY...!
In short: Good concept, bad execution
The bad:
gonk #1) INGREDIENT-ITEMS BECOMING RARE THEMSELVES
Some people want the ingredients for the items they are, but because of this new alchemy feature their market value is sky-rocketing. Furthermore, those items will disappear forever into the ether for every successful attempt at a recipe, becoming rare themselves and thus aggravating inflation.
Not to mention, some of those items-turned-ingredients are specific drops from certain CIs; since old CIs don't get opened so often once their hype is over, those items-turned-ingredients will be in higher and higher demand "exponentially" faster.
gonk #2) UNPRECEDENTED INFLATION
Speaking of "exponentially", just look at the state of the inflation with just one day of Alchemy. If goldsinks are theoretically helpful in keeping inflation under control, what to say of Alchemy as a goldsink? My impression is that so far it's been disastrous, for people questing as well as vendors.
gonk #3) PREVIEWS OF FINAL PRODUCT UNAVAILABLE
There should be a way to preview on the avatar the items to be crafted, so that everyone can be sure it is worth the investment.
gonk #4) UNREASONABLE AMOUNTS OF GOLD INVOLVED - AND IS IT REALLY WORTH THE RISK?
With no way to preview the final item and vast amounts of gold to risk in a game of chance, I wonder how many people are willing to try this out and possibly advance level. Most gaians don't have a lot of spare gold to "blow on hats" so to speak, and even within the minority that does have lots of gold it may be that not all of them are brave enough or willing to gamble it.
The good:
mrgreen #1) GOOD CONCEPT
It's a good idea, but I think the ingredient-items and amounts of gold required should be revised before it can be fun, useful, worthwhile and accessible to the average not-so-rich gaian.
mrgreen #2) I got a Pink Link flying box because I took the time to write this post =)))