Believe it or not, Patrick, I am aware that 12 at WFW has no water hazard.
Risk/reward and decision-making can exist with or without water. Do I hit driver and risk a bunker that I may or may not clear so that I can get home in two? Is that another example of risk/reward? I think so, and it doesn't involve any water at all, imagine that.
If there is nothing to gain as far as reward on a shot on any hole, whatever its length or par, than it is unlikely that a player will consider taking a risk, and in my mind, without any question whatsoever, holes that ask players to make risk/reward decisions are inherently superior to ones that do not.
Par 5s that are utterly unreachable do not necessarily lack decision-making. 6 at Loch Lomond is a very interesting hole because a central hazard puts decision making into the 2nd shot, as far as where one lays up. But generally, par 5s that involve three INTERESTING shots are almost nonexistent. Whereas par 5s that involve interesting decisions off the tee and about reaching in two are considerably more common.
As you can see from my little motto, it is not about women's health issues, it is about golf. I am PRO-CHOICES. I want holes that make the player think. Changing this hole in the manner that has been described is likely to lead to the following sequence of shots: 1) Hit something that definitely won't reach the fairway bunkers. 2) Hit something that doesn't bring other trouble into play 3) Hit short irons. The new hole is much more likely to dictate play. By my definition, if that is the end result, the hole is worse.
Golf is played against the other player(s). Holes that force players to make choices and consider risks do a better job of identifying the better player.