Lighter balls have already been rejected by the public in a previous ruling attempt. Why would the public now accept a ball that can be blown around by wind even more? Not only would it be blown around by the wind more, my experience with Cayman balls would seem to indicate it would be harder to flight the ball down to avoid the wind.
The problem with the ball from 1930 was that it was too light, especially considering that it was already a had-to-control balata ball.
And the USGA not only lightened, it they made it bigger at the same time.
With today's easier-to-control balls, taking a little weight out could never have the kind effect caused by changing two characteristics at once.
FWIW, I am convinced that with even a little testing, the ruling bodies could arrive at a lighter ball that came close to duplicating the characteristics of balata, at least as far as the power/control equation goes.
The "balloon ball" was 1.55 ounces, compared to 1.62 ounces before and after. So something like 1.58 or 1.59 might be the sweet spot.
And FWIW, there's a patent out there for a ball that is lighter, and the company that applied for and got the patent claims it would be longer for women and seniors because they could keep it in the air better.
So, as far as your point, if that company is right, and a lighter ball actually helped people with swing speeds under 100 mph, maybe getting a new standard accepted wouldn't be so hard.