hardcoe Mode in New Vegas was not the right kind of difficulty. Just because you deal less damage and enemies deal more, does not make the game challenging in a good way. Just because you have to trivial maintenance things like repair a weapon, eat, and sleep - again does not make the game challenging in a good way. My problem also isn't that Master isn't "hard" it is that difficulty does not scale appropriately. There is an enormous gap between player strength and enemy strength the more you level, to the point where it is rather silly. Your only option is to try to not level up and intentionally gimp yourself, which is hard for any true player to ever do and should not have to do. They just need to give the players more control over how enemies scale and improve the AI greatly. Difficulty settings should not only increase enemy damage and decrease yours, but Elite versions (boss mobs) need to spawn more regularly, encounter size needs to increase, AI needs to be improve, enemies need more skills/spells at their disposal and so forth. The fact that I do not change my tactics on any difficulty, is a problem.
hardcoe mode was perfect for me. It added some elements/gameplay mechanics that old timers like myself enjoy, but the gamers of today just brush away as "tedious". It didn't make the game "harder", there was a difficulty setting you could use in addition to hardcoe mode. I don't like the name "hardcoe" very much at all, I think it should be called "enhanced gameplay" or "additional mechanics" or something, "hardcoe" seems to imply something completely different.
Agree on the second part though; on master it starts of extremely difficult where you have to flee from many foes (which I still find to be fun), goes via maneagable (when depends on build I guess), to ridiculously easy once you gain high levels. For me the problem is that, even if I'm using the game I try not to exploit anything, the leveling progress is too fast. Maybe a mod that only adds +5/+2 rather than +10 to barstats every level would help? I would then have to rely more on my defensive skills (armor for a fighter) than let the body be able to absorb any kind of damage. If traps ignore armor, I may still have to worry about them at high levels unless I got the pressure plate perk.
Or just some simple slider where I can adjust the leveling speed which for me personally is way too fast.
A quick balancing on the crafting would be to avoid the possibility to grind low level stuff to gain skill experience, which only makes sense. For those who still want to gain high levels but without perking it, they would have to rely on trainers to get there. Now we have a forced money sink, which is also needed.
0-30 Smithing: Iron dagger grinding is allowed.
31-60 Smithing: Have to grind advanced armors.
61-90 Smithing: Produce dragon armors, or enhance magic armor.
91-100 Smithing: Only daedric grinding takes you further (hard, due daedra heart requirement).
(adjust the values so they make sense in the skill tree, I don't recall them here).
0-30 Alchemy: Grind anything.
31-60 Alchemy: You need to create potions with two effects to advance.
61-90 Alchemy: You need to create potions with three effects to advance.
91-100 Alchemy: Only potions with three effects that also include a daedra heart.
I haven't used enchanting so I don't know how that works. Another option is to half the speed of advancement, and half the perk requirements (so they can be picked earlier, where you "max out" at 50), combined with a exponential growth slowing down in gaining speed - pretty much eliminating the chance of reaching 100 in any skill. You still get the bonus from skill increases and the sensation of progress from using that skill, but you no longer feel "forced" to skilling up, it's more a natural thing. This "need to reach 100" is ruining role playing, it really shouldn't be a focus at all.