Armor/Weaponsmith high level advantage
As a level 400 weapon or armor smith, you will be able to make exotic tier weapons or armors, they will have the same stats as any other exotic weapon/armor of the same type in the game. You will also be able to take certain materials and create exotic tier runes.
So no, no advantage really. In general it costs you more, or about the same, to buy the materials and create an item compared to the cost of just buying the item already made off the trading post. Maybe a few things can be a tiny bit cheaper depending on the current TP prices.
However, if you plan on creating a legendary weapon, each legendary requires level 400 in 2 of the crafting professions (check wiki/forums for which legendary requires what).
Generally the only reason to level a craft up to 400 is for the leveling experience it gives you or for a Legendary as Lpfan said. You will not have any advantage over a character who has not leveled any craft.
You can make some copper from crafting but it is a lot of effort, the problem being that so many people use crafting to level they sell the items they made cheap as it is treated as a byproduct of the 10 character levels they gained.
Understood! only one last thing, what are these “exotic” weapons, just different skin?
Exotic is the name for items with orange lettering in the name. It is currently the highest level of gear that has full sets (armor, weapons, accessories, etc.) It has the highest stats, only ascended items beat it and you can’t craft any of the ascended items that have been released yet.