Adrian,
I agree with everything you said as I lean towards economics solving many problems in life, BUT, there is/should be a special place in life for special things in life.
Ten years ago, I had the opportunity to join Lahinch GC but I just did not have the time to go through the process, so I joined Enniscrone GC in the Northwest of Ireland. Enniscrone keeps getting better and better, and I really love the people and the course. They could not have been nicer to us this summer when we re-visited Enniscrone. That said, I played Lahinch in some rain, and lots of wind this summer and I could just feel Alister's ghost out there. Ten years later, I wish I had taken the time and effort to join Lahinch. It is a special place.
I can't say that Blackpool has that type of aura, but I do think Old Tom, MacKenzie and Colt are in Mozart, Bach, and Beethoven type of territory and we should think twice before we rip up their courses. Ten years from now, people may have a different perspective.
Timber Point GC (Long Island, Colt & Alison) was in no man's land for awhile and they went the opposite way when the population base grew their way. They ripped up most of the course to squeeze in 27 holes of muni style golf. The argument of golf economics can go both ways, but I think history should at least be reflected on and Timber Point was an opportunity lost as those extra 9 holes are really not needed these days.