Sean,
There's more than a pure dollar cost issue, there's the time issue.
ie, If rounds could be compressed from 5 hours to 3 hours you'd attract more golfers who don't play due to the constraints on their time.
And, for operators, with rounds at 3 hours they could accomodate more golfers, creating more revenue, which might lead to lower prices.
When it comes to the manufacturers, aren't we, the golfers, the culprits ?
A new driver or putter comes out and we rush to buy it.
How do you reduce the cost of equipment when the consumer is willing to spend on products which may or may not produce any meaningful incremental benefit ?
The game and the challenge of the game is the inherent lure, there's nothing that should be done to alter the game in order to attract more golfers.
Reducing "time to play" would attract more golfers.
Hard dollar costs to play not associated with time to play are another matter.