Doomed to fail, I'm afraid. But I give them points for trying something different.
A few years back, Nicklaus came closest imo to addressing the time investment issue with advocating the introduction of 12-hole rounds. Now granted, that's not going to keep people from waiting on a slower group up ahead. What it would likely do however is turn 5+ hour rounds into 3-hour rounds. That would, in theory anyway, help address the common complaint that it takes too long to play a round of golf.
Of course... the concept ain't for everybody. A lot of people here probably don't find this option appealing whatsoever. Two prevalent schools of thought are: I only get out once a week, I want the full experience. Or: I'm retired, would rather spend 5 hours on a golf course than spend 5 hours at home, and I'd never want that option taken away from me. Both notions are obviously understandable.
But short of something like what Nicklaus proposed being universally embraced, most people might as well get accustomed to spending most of a day at a golf course. Which for us retired folks ain't much of an issue. But the stigma that golf is too expensive and takes too much time ain't changing. Golf will go on, but eventually the supply is gonna outweigh demand. Maybe not at XYZ course, but it's already happening at other places. There's not been a new course built within 50 miles of here over the past decade. But several have closed since then.