Well, I certainly don't dismiss your scenario as possible. I don't know the owner-operator nor have insight into their operational goals and philosophies. They have remained true to their formula, so far.
Just as Mike Young touched on in another thread, the big fancy club house geared towards the CCFAD wine at the 19th hole set would likely be an operational mistake, IMHO. They fill a void in a market now that is unique and with much lower overhead. I like Tony's (comtngolf) Tag line of "the higher you get, the higher you get". I thin of that in terms of the higher you get, the less oxygen there is to breath. In golf, the higher you get, the higher you get, and the greater your nut is, everyday!