I would say that close to 95% of all the sand that goes in bunkers I work on is manufactured and not naturally found. Bank sand has become scarce ... but most of this has come from elevated expectations about drainage, firmness and the ability to remain in place. Almost all sand used in Southern Ontario is a manufactured product, crushed for size, run through sieves and eventually washed. The particle shape is sharp and angular as opposed to the round shape more common in beach sand. It drains better, stays firmer, resist washouts and keeps the ball on the surface. There's a reason why its popular.
The technology is far superior, whether that's good for the game or demeans the value of a bunker depends on your own personal point of view.