While I agree the PGA will tread as lightly as they can, I understand PB's sentiment... with Arnie 5 years gone and its profile champion unfortunately about at a competitive end, what is there left to summon appeal?
Bay Hill? It's got to be the plainest and least remarkable of the several Tour courses built or associated with the games' American player pantheon...ANGC, Muirfield Village, Greenbriar (Snead), Colonial, Riviera (Hogan)....as a matter of personal taste, I find the two other courses where Tiger won 7x+, Torrey and Firestone, to be better TV watches. As Florida Tour courses go, it's near the bottom of my list too, nip and tuck with PGA Ntl, behind Sawgrass, Doral (BT), and behind Innisbrook, which has grown on me over the years.
Without Tiger doing something competitively amazing to win and without Arnie to hand the prize, I feel Bay Hill just washes into a formless collage of flatlands and large greens weaving through waters and palms. I'm positive I would have a lovely time there with friends; I'm sure its a dandy lunch and you are treated well, and everything is nice and Tour trim, just not much spectating or architectural interest there, so I see how PB can arrive at the feeling.