To a degree yes, but mostly, no. To me hard is a relentless challenge with punish for every miss. The tendency is to pile up double bogey via hazard. Sooner or later, I get tired of the punishment!
Fun is trying to create different shots on every hole. There can be room to miss and make bogey, but not par or birdie. There are occaisional holes where you are screaming, "Oh, S**T, Oh S**T,,,,,,,,, OH S**T, it turned out perfect!" on account of some friendly kick in bounces, punch bowls, etc.
In terms of a pure test of golf, that kind of course would not be considered a top course, but it would bring me back to play more. I think Oakmont and a few other classics would be fun to play a few times, but not every day, although I suspect their low handicap membership feels differently, and certainly, playing in such a historic setting would be fun and make up for difficulty all by itself.