Limiting the amount of professions would increase the social part of the game, players would need to depend on each other to get things done. Finding that blacksmith to make something keeps that social window open. I think it would be better for the economy of the server also. You would feel like you role is needed. Eventually no one will need anyone to get anything done and that would suck.
Just a thought, we all do not have to be alone in this together.
P.S Make Fishing Great Again.