Even at the top levels, designing these split fw holes is tough. Over time, the carry distance has become too short, or maybe was always too short in deference to the average players. Obviously, even with multiple tees, the shorter the carry, the more you open up the thrill of the carry for average folks, but it makes it TOO easy for the longest hitters. Then you have to perhaps add lateral bunkers or something to restore that challenge, or they take it all the time.
Disregarding wind, downhill, etc., that carry point would have to be at least 275 these days for the longest hitters. Figuring 35-40 yard tee splits (and I always make them bigger on this type of hole) That translates to 235-240 for the 260 hitter, 195-210 for the 230 hitter, etc. Not bad, but the room for error on those levels really ought to be bigger. As a practical matter, aligning the tees must consider both fw options, which is also never easy.
Add in the fact that for the best players, they need to have both a 2-3 club advantage to take a risk, AND the approach shot from the "safe" fw must be 180 yards or more to justify shortening it to 150 (going from 150 to 120 doesn't really help enough or make an angle difficult enough to justify the risk) and its hard to do these on anything but the longest par 4, or a par 5 where the go/no go decision comes into play. Achieving a large distance differential requires a very sharp dogleg, as well.
Add in the fact that in the 1930-1950's, most double fw holes went away, as the cost to mow twice the fairway made a lot less sense in tough times, figure we are in those times again, and I would hesitate to design a double fw hole at all anymore, even though I probably have 50 examples of such out there somewhere.
As TD says, its very possible to get similar results with 1.5 fairways, using slopes or something subtle for the carry (or even the bottle hole concept) without adding 5 acres of turf for the alternate route.