Rob,
It may turn to out to be a fine golf course, but the costs were astronomical compared to the original intent, the course was closed a lot longer than anticipated resulting in considerable hidden costs as well.
The concept was, as I believe, sold as a sympathetic restoration to the Flynn and Collis designs. From seeing the plans, I think what resulted is a new Arthur Hills course with any connection to its classical era as long gone.
What was the alternative? A sympathetic restoration at a fraction of the cost and disruption to the club. It remains to be seen if the model selected and enacted works for the club.