I created a brand new vanilla 1.8 server. A friend and I connected to it using the official launcher, 1.8, vanilla.
We worked our way up (down 🙂 to diamonds, obsidian, lapis and built an enchanting table. I made a few enchantments (iron tools and iron armor) to test out the new system.
However, when I tried to enchant a fishing rod, I got an inert cost-1 level-2 enchantment, mousing over or clicking on which does nothing. As one can no longer "cycle" enchantments by replacing the item, I'm stuck.
The same goes for my friend. We can still enchant other stuff fine (only tested iron tools and iron armor), but the fishing rods are a no-go.
Linked issues
Comments

There are no low-level enchantments for fishing rods.
This also happens in 1.14.4
now i can't get really good loot from fishing (I can but I have a lesser chance)
WAI. MC-30730