I'll try to explain it simply and deliver a solution, that's maybe not the best overall but it will make your experience with the game way better - as it was with 7.3.5 or at least close to it.
EXPLANATION
First, let me clarify how our Macs works. I assume that most of the people are using a Retina display (iMac or MacBook Pro). I will use my MacBook Pro 13-inch (2016, with Touch Bar) as an example to explain the issue.
My default screen resolution is 1680x1050 (see System Preferences > Displays). If you want to know what yours is, check the settings. If "Default for display" is selected, change it to "Scaled" and hover your mouse pointer over "Default". You will see your resolution on the left side below the Mac.
Here is the trick. Even I am using 1680x1050 it's not the native resolution.
The actual resolution is 2x the size - in my case 3360x2100. The reason why everything (especially text) looks so nice on your screen is that it gets rendered twice the size and then scaled down. With 7.3.5 we had the option to play in "Window Mode (fullscreen)" or whatever it was called. So whenever we started the game, our screen went from rendering in 2x to 1x and only displaying the resolution you have selected. I will explain it below with my setup.
EXAMPLE
7.3.5
• My macOS resolution is at 1680x1050 (2x = 3360x2100).
• I played WoW in Window Mode (Fullscreen) with 1680x1050 (1x = 1680x1050)
• Useful Info: 1680x1050px = 1,764,000px
• Always 60fps
As soon as I started WoW my screen switched from 2x to 1x mode and rendered just the resolution I selected. The GPU had to take care of 1,764,000 pixels.
8.0.1
• My macOS resolution is at 1680x1050 (2x = 3360x2100).
• I had to play WoW in Fullscreen with 2880x1800 (1x = 2880x1800)
• Useful Info: 2880x1800px = 5,184,000px
• Around 20fps (35fps with 50% resolution scale)
Even if I would scale down the now called "resolution scale, the screen is still running full resolution in the background (2880x1800) and just decreasing graphics quality. So the GPU has still to take care of all the pixels and that's what kills the fun. And the graphics quality still looked like !@#$.
Anyway. We'll leave the tech stuff to the pros and just go on to the workaround. That's what matters in the end.
SOLUTION/WORKAROUND
Edit: There is another way without a 3rd party app. Navigate to "Application" and open your WoW folder. Select "World of Warcraft.app" and press "cmd+i". Check "Open in Low Resolution". The other way might still be a better option if you are looking for a specific resolution.
ALTERNATIVE
1. Download "EasyRes" (google for easyresapp) and install it on your Mac.
2. Start the app and it will display a little icon in the menu bar (top right).
3. Click on it, hover with your pointer over the screen and see which option is selected. (Probably something within the "Retina 2x" section.)
4. If your resolution is, for example, 1440x900 (Retina 2x) change it to 1440x900 (Standard 1x) or the resolution you want to play with.
5. Your screen will refresh itself for a second and it's done.
6. Start Wow and go into the settings.
7. Select "Fullscreen" and apply.
8. The resolution field should be greyed out.
9. Set "Resolution scale to 100%".
10. Log in and enjoy.
Once you finish playing you can change the Resolution back to 2x but remember using it again before starting WoW. I know it's not perfect and not a longterm solution but at least it's something and very easy. If you had different settings before try also different resolutions and see what's running best for you. Most important you select a resolution within the "Standard 1x" otherwise your GPU will render double and die.
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To be honest, the easiest way to understand the problem is to take a screenshot. Start Wow without applying my solution. Set it to Fullscreen and whatever resolution you want to use. Log in and take a screen (cmd+shift+3). Afterwards, change it to the stuff I wrote and take a screenshot again. Now compare the two screenshots (cmd+i). If you run WoW with the wrong settings the screenshot size will be above 3000x2000+ and if you apply my method the size will be somewhere around 1440x900 - 1680x1050 (depending on your selected resolution).
I hope I could help you and enjoy playing the game!