If by never recovered, you mean we haven't returned to the ridiculous abundance of disposable wealth we had in the system then, then yes, we haven't and hopefully never will again. Is the economy bleak right now? Oh yea, definitely. It was in the 70's too, and we survived. The poor got poorer, the rich got richer, blah blah blah ... makes for good angst-y pop song lyrics, but people moved the #$% on.
But we digress from the OT - the sky isn't falling with the slicing nerf. I just checked the GTN and ya know what, people are selling stuff and people are buying stuff. I'd call that working as intended.
Would I take slicing now and expect uber WTFPWND instant wealth? Nope. Would I take it (and/or keep it, as I have on my cybertech agent) for augments and mission discovery, and some supplemental income when I am out questing by gathering? Yep!