Ok, then the Pellucid Report needs to provide some better facts, or less hyperbole. There is a huge difference between unnecessary surgery (ethically dubious) and "financially crippling." My only knowledge of clubs that have crippled themselves had to do with clubhouse renovations, not bunker work. How many times have you personally seen the latter?
All restoration and renovation work is elective surgery. What % wouldn't have been done if the new course business was booming? You might as well just ask what % of golf industry professionals are morally compromised? I'd put the number at 25 to 50 percent, just like any other industry - but of course I'm an optimist!