I don't know which, if any, of the greens/holes on the Dunes Course were more or less Raynor originals, but it really bothers me to see a valuable work of art blown up and completely redone with bulldozers. How would we feel if a museum curator scraped the paint off a Monet, created a new painting in a similar but more modern style on the same canvas, and called it a "sympathetic restoration"? If you don't like that, then you shouldn't like this either.
I don't know anything about the internal process, so I have no reason to think the architects and contractors weren't upfront about their plans. For all I know, this is exactly what the members wanted. But personally, I would be much more cautious in working on a site of historic and artistic value.
For the well-regarded restorations out there, I would be curious to see what they looked like as a point of comparison. For example, when Doak et al. worked on Pasatiempo, I doubt it looked as destructive as this.