Not exactly, you take enchanting to DE stuff so OTHER people can buy stuff for enchanters to give them enchants. Yes its kind of a strange system, but no stranger then an herbalist selling herbs on the AH to the guy who needs them so his buddy can make him potions.

I personally love enchanting, it has made me more money then I can recall, I powered my tailoring to 300 when I hit 35, long before BC came out, via enchanting.

Now at 70, I go into skettis or SMV and grind on mobs, get items, and make about 60g a day for a couple hours grind, in addition to cash and trash drops.