I'm with you, Tucker.
Of course the design would have to be damn good to make this a success in the long run. In the short term the gimmick would be enough to fill the tee sheet. But in the long term, even if the price is right, I see trouble if the course lacks the interest and challenge that bunkers provide.
Interesting in that we have a muni course like this, in Milipitas, CA. Or at least it USED to be that way. It's called Spring Valley and for many years had no bunkers. I found it to be unique and cool and played there a lot, because it was different and because it was fun. But it didn't do all that well... The decision was made to put in some bunkers and everytime I go there now, there seems to be a new one. To me it's lots it's uniqueness and there's less reason to go. But it's also more popular than ever area-wide. It's an interesting test case, anyway.
TH