Racials shouldn't be removed, they add a lot to the game (including Arena). It's like an extra talent point that players can pick - adds more to comp/class/talent diversity etc. It would be interesting if you could pick or change your racial though (not all the time). My Druid would love WotF or EMFH.
I'm not going to argue whether EMFH is balanced or not for PvP in general, but there is definitely an argument to be made whether it is overtuned in comparison to other alliance racials.
An interesting fix would be making EMFH behave identically to WotF, in that, they don't share a cooldown with PvP trinket - but using one incurs a small cooldown on the other (So you cant trinket twice in a row). Obviously EMFH would have to be a longer cooldown than WotF, as WotF doesn't break all CC, but I think something like this could work.