IMHO, that hole doesn't look terrible, depending on the visibility of the water and other design details. At least, for one unique hole on the golf course. But, the tee shot carry is too short, and there seems little advantage to going left on the second shot.
I have a similar hole at Champions Run in Omaha, and since the tee shot carry was a similar 167, the safe fw left came right out of mowing for a while, due to low use. They did add a back tee and follow my advice to leave the safe shot left.
In general, I have found that golfers pretty well determine which is the best way to play early, and then the options narrow themselves, leaving the golf course to care for many little or unused acres. Which is why most of the double fw holes have been mowed out of existence over time.
As to the other general question of making one's head hurt, I posted on another thread about a comment about my 14th at Wild Wing. Another architect said the 4 tee shot options made his head hurt and was confusing. I have come to the conclusion that the average golfer expects one option, maybe a subtle left or right side of the fw 2 options, or even a clear double fw 2 option tee shot. In reality, the third option, if any, gets used so little that it is rare.
We have to recall that MacKenzie never built his ideal hole for Country Life, did he? Somehow, that tells me that even he didn't really think that multiple options was really practical, despite being great in theory.