Pat,
Speaking for myself, I can say that five (5) of those views of this post are my own, because I am always curious as to what kind of crazy sophism and/or evasion you will implore during the course of a given thread, and with your last response you certainly did not disappoint. You have asked others on this thread to provide a rationale for their answer as to what constitutes a "bad" golf course. It seems fair that you do the same. It would help facilitate the discourse, as opposed to the defensive tirade that you chose to go on.
That notwithstanding, please put me in the camp that says "yes," there is a bad golf course on the ocean, as well as on bays and lakes (I am not going to identify any specific golf course, only answer the original question in the binary format in which it was posed), though I will say that my reasoning is primarily because I do not believe that bodies of water have any inherent impact on the physical structure/architecture of a golf course. The soils and terrain that surround bodies of water may well be conducive to "good" golf, but it is hardly a guarantee. I also believe the concept of "badness" to be such a personal matter that it is difficult to generalize outside of ones own opinion(s). In other words, I'm just not sure what answering this question (even if it was posed better) actually accomplishes. You seem to believe it is important, but won't tell us why.