I don't think so Sam; but, as you say, it definitely needs good topography. And, along with that, to consistently be in firm condition.
I've always been fascinated that Augusta National opened with 22 bunkers. I wrote an article for Golf Architecture magazine a few years ago arguing that they could take out more than a few of today's 44 and the course would be just as good. I can think of many other courses that would probably be just as good without bunkers, too ... St. Andrews-Old?
We're working on a restorative-based project at Fircrest Golf Club, in Tacoma, where I'm trying to do the same. A.V. Macan, the original designer, was an advocate of using as few bunkers as possible; his original plan for Fircrest had just over 50 bunkers. The topography is good enough at Fircrest - some links-like contour - that I'm trying to get away with using under 40 bunkers. But, really, Fircrest would probably be just as good without bunkers.