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Cooking makes stat-boosting food, such as Fated Fortune Cookie, feasts that can be used by a full raid group, such as Grand Banquet of the Kalu’ak, and fun food such as Churnbelly Tea.
Dragonflight introduces Crafting Specializations, but Cooking unfortunately does not have any, making it one of the simplest professions.
Cooking combines nicely with agricultural characters, such as Guardian Druid and Beast Mastery Hunter, who have Skinning and will naturally be hunting creatures that drop many of the ingredients needed. Fishing characters will also be able to assist with cooking supplies.
It also works well on Pandaren characters owing to their high racial bonus and combat benefit of having double stat meal boosts, but you should have it on whichever character(s) you play the most.
Dragonflight introduces four new stats specific to crafting professions: Multicraft, Resourcefulness, Inspiration, and Crafting Speed.
Cooking does not use Inspiration but the other three stats are all strong in their own way.
The most important source of Cooking skill is your profession level, which is increased by performing difficult crafts.
Cooking has no Specializations.
Cooking, in theory, allows you to turn inexpensive meat and fish into pricey stat meals, feasts, and fun food. Because food is a commodity, the market is extremely likely to become flooded with meals that are just moderately more expensive than the ingredients necessary to produce them.