Forrest,
Well, that was certainly the thought behind the USGA and other sand based greens. No surprise they came along about the same time automatic irrigation and pelletized fertilizers were becoming reliable enough to replace nutrients and water, with the sand reducing (I think they thought it would eliminate) the other nemesis of compaction. That said, the USGA did specify peat at 20% back in those days. In the last decade, I don't think the soil tests and recommendations have come back with anything more than 5% peat and I have put in as little as 2% based on recommendations.
Of course, for the last two decades, tees have followed sometimes exact mix specifications, and sometimes somewhat less, if a locally available "sandy or sandy loam" was available at lesser cost. Even those have proven to usually lead to compaction and too much moisture retention for the high use areas. And in both cases, but more often with tee mix, some "experts" have proposed sand/topsoil/organic mixes of about 1/3 each. The problem usually is, sand+topsoil=concrete, in one of the most unusual math equations of all time.....
Another trend, which I used to joke about in the 1970's and 80's was that at some point, there would be "USGA fairways" and the sand capping and tile draining has become more trendy on expensive courses, and frankly, necessary in some areas of the country where bad water quality means draining it through as fast as possible is best done with sand. And many sites in Asia sand cap the entire course, again, sometimes as a necessity, but sometimes, I felt, from my limited experience there, that they just didn't have the patience to strip and save the existing topsoil, or had the philosophy that it was worth it to use better material and damn the expense. Again, some of the topsoil procedures are personal preferences of those in charge as much as agronomic testing.
Starting my career in Illinois, a state with (generally) deep fertile topsoil, for most of my career, the most feasible thing was generally considered to be stripping and replacing the topsoil there and amending it, grade it where necessary for surface drainage, etc.. All of the above just shows how much more technically complicated it has become, sometimes necessary, sometimes still optional or unaffordable.