Not that this is in the realm of reality, but restricting length on the second shots would be somewhat more effective ideally. The only way to do that is to require extreme technology restraints like hickory shafts, and devolution of iron manufacturing.
If the competitive players are hitting it too far ( which I think is evident when most par 5s are reached in 2 with irons, and 440-500 par 4s are reached with mid to lofted irons, then that is where the game gets boring, and becomes a game of lawn darts. So, if the desire is to have that orgasmic crushed drive off the tee, then follow it up with a challenging club of low technology that demands real club head and swing control for shaping and playing more demanding shots from the second shots in to the green and hole.
Do {I} hit it too far- definitely not. My best is about 260 and usually I'm 230-40. It is not us geezers and hacks that hit it too far, no matter what the techology. It is the competitive top ams and pros that we suffer from boredom by watching the drive and pitch contests, and birdie fests.