If the standard is a typical 18-handicap, it would be foolhardy to bring only two balls to Augusta. And Pine Valley. And Merion. And Pebble. And Cypress. And every top links course.
I disagree.
The number of lost balls for an 18 handicapper (like myself) depends more on the course than anything else.
More wind may mean more lost balls than calm conditions, but again it is more the course. My local course is maybe a Doak 2, but I lose 2-3 balls every round because of the heavy rough.
I haven't played that many links courses, but here is my history there:
TOC 1 ball lost. Mild breeze, maybe 10mph
The New 3 balls lost. Calm day
The Machrie 2 balls lost. Calm day!!!
Machrihanish 6 balls lost. Mild breeze. Balls in the native - forget it!
N Berwick 1 ball lost. 15-20 mph wind.
Brora 1 ball lost. 30-45 mph gale. Balls in the native could be spotted easily. Into the gusts I hit some hooks where the ball went 75 yds left of the fairway, but I could still find the ball.
Fraserburgh lose about 3-5 every round regardless of wind
I absolutely LOVED these great courses. For me there is zero correlation between how I would rank them (or how much FUN I had playing) and the number of balls lost.
On the other hand, there is a course near me that I DETEST because it is so penal. It has so many sideslopes and blind shots that I lose a couple sleeves each round. This is a highly rated course in fantastic condition. But even if you hit the fairway, if you hit short and to the wrong side, your ball will bounce down into a ravine, never to be seen again.
To summarize -
1) If the course is great - I don't mind losing some balls to poorly hit shots.
I do dislike playing a so-so course where I will lose balls even on my normal shots.
2) My pet peeve is losing balls near the green. If your approach shot hits on or near the green, you shouldn't lose your ball. I strongly believe THAT is poor design!