Ben,
I agree that less bunkers makes a lot of sense. Not just for the money aspect, but if golf is supposed to be natural, then why are there bunkers at all when we leave the seaside dunes sites? They have become artistic abstractions (all Mac's fault, according to another thread).
I once postulated that a course should have no more than 30 bunkers, but each should be deep, deep, deep to affect play. Sadly, the trend of most gca's (me included) is to put them all over the landscape in almost spin art fashion, because, well, "they look MAHVELOUS Dahling". And, that is because they help sell houses in many cases, which also drives the bunker reduction programs - once the houses are sold, golfers don't necessarily want a bunch of bunkers all over the golf course.
I am sure that bunker reductions will help architecture. I used to "plug in" 100,000 SF of bunkers. In my recent work, that number has ranged from 40-60,000 SF, in part because of bunker numbers reductions, and in part because I make sure to build them smaller. I think many gca's build them too big anyway - the greens really should be the visual focus, not the surrounding bunkers.
Wish I had more time to expound today, but I don't!