Well thats not true at all. In pvp people still play orc for the racial. Rogues even press different buttons in their opener on orcs. In racials still matter. People have swapped several times for specific encounters. Take the entirety of method being trolls for the racial on jaina or not to mention all the goblin swaps for the jump on certain bosses.
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That does not change the fact that racials do still very much matter.