I could be wrong, but I think government reggies and water cost are already heading us in that direction, if not on a national level then a local one, where needed. IF there is any gov reggies, they should be local, since conditions vary so much.
And, once again, I think perhaps our focus here on the top courses may skew our view of how much over watering there really is. Most courses make do, because of cost, or old irrigation systems that just can't put out enough water, rather than ones that put out too much. The biggest cause of over watering is really antiquated irrigation systems that require overwatering some parts to get other parts the moisture they really need. I think any of the irrigation designers who post here would agree.
We can't forget that turf has a minimum and maximum "field capacity" for water. Usually, it can survive on 1/3 of its max saturation, although this varies by variety and some go dormant but don't die.
If the super let turf dry out to, say 40% of field capacity for FF conditons, by not watering for two weeks, then he would be back to putting on the ET value lost every night. If he puts out just a little less than ET dictates he should, he gradually gets to FF and counts on rain to keep the turf at the minimum acceptable moisture level.
I doubt even the most committed super would allow his turf to regularly get below 50% of soil saturation. Any lower is just cutting it too close for comfort to them. However, replacing just a part of ET every night, rather than the full amount is, IMHO, a practical watering method. You don't HAVE to get the soil back to full moisture content for turf to be green and healthy.