Is the Razzashi Hatchling item to be removed?

If you currently have the Razzashi Hatchling item in your inventory, you'll still be able to learn the pet spell at a later point in time. It's not like the pet is disappearing completely; it's just no longer dropping from its usual home in Zul'Gurub.

In fact, I can confirm that the Razzashi Hatchling, being a clever and resilient little reptile, has already found a new home, and will be migrating there shortly after the shattering. ;)

making an official announcement the hatchling would no longer be available, knowing full well people would spend lots of time and effort to farm it feverishly before it goes away, and then suddenly saying it actually will still be available, thus making the item entirely less valuable (potentially worthless depending on how it is obtained) and the time some of us spent a waste, is sort of unethical imo.

When we made the original announcement last month that certain pets and mounts would be removed, it was to inform players of changes that could potentially impact their gameplay. We know that there are many avid collectors out there and, whenever possible, we want to give players notice when a favorite item might be removed. In that same announcement, we also clarified that, while we didn't have any current plans to re-introduce the specified pets and mounts, if we happened to find a suitable location to add them back in, we would certainly consider it.

Totally reasonable, right?

Since then, we found an appropriate place for the Razzashi Hatchling, and it felt like a good opportunity to restore a pet beloved by so many. Naturally, we were excited to share this information with all of you, as we knew a lot of players were saddened to hear about the little guy's initial departure. There was no malicious intent, no crazy conspiracy behind this decision. We saw an opportunity to make the game more enjoyable that meshed with our design goals, and we went with it. Simple as that.

In the end, the worth of the Razzashi Hatchling isn't solely measured in gold, and it would be a fallacy to think that we create non-combat pets simply to provide players with something to sell on the Auction House for profit. To many, pets like the Razzashi Hatchling represent something fun and exciting, and that's just as valid a currency as any in World of Warcraft.

While I'm sorry you're at a financial disadvantage now, I'm hoping you're still be able to enjoy the pet for what it is (re: an adorable, head-bobbing reptilian sidekick) -- or, given that it will still be a rare pet, perhaps even find someone who will adopt it for a reasonable price. Good luck. :)