I'm going to go in a different direction than USGA's concerns with the ball. To note, Mr. Nicklaus is truly one of the greats, but he didn't have an issue with the ball in his prime in the 70's when he was the "DJ" (no offense to Dustin, but he has awesome power) of his generation.
Courses don't need to be over 7000 yards for 99+ % of golfers. The USGA should focus more on helping redesign courses to be shorter and use more waste areas to minimize water and other maintenance costs. With shorter distances and narrower fairways, there won't be the emphasis on over-swinging. One problem with pace of play is watching guys that drive 220 yards swinging for the moon with no accuracy starting on the 7800 yard tips and lucky for a GIR+2.
Not every course needs to be "just like a PGA stop". The Champions Tour and LPGA play less than 7000 yards. Let the PGA be the PGA and have the USGA take care of the millions of average players. Pros hitting wedges on par 5s for a second shot should not be a USGA/R&A issue - that's the PGA's marketing problem. Give us sustainable courses that can afford a lower greens fee and shorter times for a round. We have no issue with all the current equipment improvements.
Would power players quit golf if the tips moved to under 7000? Would average players quit golf if they lost 20% distance? I'd say the latter.