I think the ground level photo shows all. It doesn't matter diddly squat what anything in golf looks like from the air. One of the biggest reasons why "Mailed-in" designs fail is because, as my father used to say, "you can't design from an airplane. You have to be on the ground. I can't tell you how many times the aesthics ofa hole drastrically changed just by cutting or filling less than a foot around bunkers.
If one reviews the evolutiion of the bunkers at Peeble, it can be seen that they tend to evolve over time. Who's to say how or why that particular bunker looks the way it does today? Afterall, as the last piture shows, very little is visable. I imagine that it was extended back toward the tee to allow for that vision - by depressing the foreground. Also, being about 25 yards front to back, it visually brings the green closer to the tee than it really is. Bear in mind, this is in reality 2 very small greens. With all that is going on visually and with the wind, it an make choosing the proper club difficult - if you're trying for the back-left pin.
My problem(s) with this hole is that most golfers play PB once - if they are lucky and have the coin. With 2 dramically different pins, you may feel jipped if it is front right. My other issue is, for such a prominate pace both physically and sequentually on the course, it is a rather bland hole. It is flat, flat, flat. At least the recent bunker redo has added some3-D and appears to have made a sliver of the back-left pin visable. I rather like the line of the previous photo with #6/7 in the background. Too bad that land is occupied.