I'll go with 'the look' of bunkers. Lacy or hairy lipped bunkers look attractive yet if not placed well are just eye candy. For instance, I've played Wild Horse when the bunkers were nude lipped, not fringed with native grass and mowed to intermediate rough cut right up to the edge. They looked nude and plain, yet played just fine, maybe even better when they allowed balls to roll into them more easily. No doubt they look better and more in tune with the native grasses when maintained hairy, but I think the case for over-rated based merely on "the look" can be made. That goes for the puffy upholstered look, and the green wave over look. All are pleasing to look at in their best presentations, but if they adorn a superfluous or out of play bunker, they are wasted expense and become eye-candy, IMO.
I'm not saying I don't like to look at them, however. Sort of like a nude lady, I guess.