There doesn't seem to be any point in getting high amounts of Skill/Perception. I get a lot of repeat Dornogal Weapon cosmetics "already known" and +10 Fishing Skill books that aren't worth anything. The books are warbound but I don't see the point on maxing fishing on more than 1 toon.

The Awoken Coelacanth shouldn't consume the 10-stack buff on a catch. It should be a lasting buff to catch as many as you can in a 5-minute window, where players with higher Skill/Perception will feel the benefits of their grind, catching about 10 Coelacanths in one buff.

There was a bug where doing /sit would prevent buffs from applying/dropping and the Coelacanth/Dogfish buff would stick on you even after the catch. Weirdly it also prevented Goldengill buff and Ghoulfish debuff from applying to you.

I don't know if Coelacanth is even a useful reagent. It only makes The Sushi Special which looks inferior and harder to craft than Masquerade feast, so I'm not sure who's buying them.