The Toy collection in WoW is varied and entertaining and even, at times, useful for roleplaying purposes. The devs have taken great care to make none of them have an impact on gameplay in more than a cosmetic and aesthetic fashion but the cooldowns limit their potential. The long cooldown on many Toys only takes away from their value and means we are less motivated to ever put them to use.
This only takes away a potential way for players to harmlessly customise their WoW experience whether it be by making everyone look like corgis or making the player themselves look like a ghost (to put forward 2 examples).
Removing or significantly reducing long Toy cooldowns can only be a good thing for players’ enjoyment of the game and increase the fun and silly potential of WoW.