It seems like every newer course I see has the "championship course" label on it (with the caveat that it is, of course, challenging for all levels of player). With no disrespect to Melvyn, there ARE courses that beginners just probably shouldn't be playing, and that they might not enjoy playing because of the level of difficulty, or even just the amount of golf balls they'll have to replace.
An example. There are two courses at a local facility - Riverdale Dunes and Riverdale Knolls. The Dunes course has gotten some discussion on this site, and is a Pete and Perry Dye design (yes, with Mr. Doak's work as well). It's a links-style course with a good amount of width, but with very long grass off the fairways that gobble balls. There's also some water. The Knolls is a parkland course with a few trees, and is totally straightfoward, an "easier" course.
And according to the folks up there, on a yearly basis it gets a good deal more play than the Dunes. Yes, it's cheaper ($24 instead of $34 weekdays, $27 instead of $42 weekends but it is a course where you'll struggle to lose a golf ball. For what it's worth, there are folks who do prefer (or need) that level of challenge (or price).
And maybe price is at the heart of it. No one's going to play the same amount for an easy course as for a hard one, right? So if you're going to build a course, which type will investors want?