Pinehurst #4 had what looked like "built up fairways" throughout the course...removing and getting back to a more natural looking grade was a project in itself.
I can imagine more than a few clubs would reject remediation work based on cost alone. I have seen "restoration" plans that do not include remediation and yes perhaps they are faux but I suspect they are a lot less cheaper.
Jim Wagner did a wonderful job of restoring/renovating at Rockaway Hunting, it is truly one of the great gold days in the Metro area. That said, the previous renovation in the early 2000's included a larger range and mounding severely damaging holes #17,#18.
Those two holes now look and play much better but it is nowhere near what the area looked like circa 1990's or 1920's for that matter. Point being....truly "restoring" would have been shrinking a range as well as giant "unmounding" work. Are many clubs willing to spend $250,000 on two holes, lose area on a range (which I am not convinced actually works as intended), in light of the total cost of the project?