Adrian,
I appreciate you might be a lot more knowledgeable than me and I am willing to learn from you. However, that would require you making a good argument in your favor.
For what it is worth, here are some of mine, taking into consideration my area of expertise and education is different than yours and possibly a lot less relevant than yours.
Revenue from carts I believe is a meaningless concept. More relevant is free cash-flow from carts. What does a cart cost today in your neck of the woods? Spare parts, tires and electricity? Mechanic and operators? Capital cost or interest on debt? Is the resulting free cash flow enough to offset cart wear and tear? Offset cart path construction and maintenance?
Re architect, you are obviously not going to spend all the money on the architect, but a well designed course will save you money. For example, a well built natural bunker will not need fancy liners, concrete, nor will it require much work after rain. A well built course will have good surface drainage, lowering costs. The architects hands are not tied at all. On the contrary.
Need water in the summer is a relative statement, is it not? Does fescue need water all summer? Can water be turned off for 3 weeks? Will it control most/all other species and therefore save on chemicals? Will fescue still turn green and grow nicely the end of summer and autumn? Will it have grown nicely in Spring with plenty of water?
I have seen this work, with fairways that are as good as the best you have played on, visited or worked on. And I believe it worked well in GBI once upon a time.
Low volume of play is also a relative term and part of the analysis one should make on how you run the course. It is entirely possible that increasing play from say 80 players per day to 100 players per day results in lower free cash flow, once you factor in wear and tear, additional staff, additional capital costs. Just starting play somewhat later in the day can save on staff a decent amount. Less wear and tear overtime can reduce restoration costs significantly. Expanding tee times and traffic without proper marginal analysis is a mistake.
Even if we apply US or GBI prices to every input, I would surprise you with the costs that can be achieved.
BTW, great movie!
MC