My buddy should not be playing from the same set of tees as me. Plain and simple. Why can't he just play the hole as 340 and I play it as 380? Personally, I think extending the tees only favors the guys like Tiger who are great with their long clubs off the deck. Seeing the average tour player hit a 5 iron or higher is comedic sometimes, all they're doing is setting up their short games. Few guys can actually put them on the green most of the time with a makeable putt. Even many of the long hitters who are good with drivers often suck with their irons. All you have to do is take the wedges out of the player's hands on approaches, and they won't be able to beat up the course, plain and simple. This can be done by extending the course so that the longest hitters can still get it in wedge range, or by positioning the trouble so it makes them play it safer.
I'm all for just making courses less recoverable if you want to discourage bombers. It doesn't have to be ridiculous, but this is Augusta's problem IMO, and why they have to keep moving the tees. Some Carnoustie rough or really thick trees or some water does wonders, but I see very little on Jack's course. He likes to position targets IMO and get the player to see what he sees rather than try to menace or confuse the player like a Pete Dye or something, and he gets pissed when someone goes a different way no matter how much of a risky shot it is.
You said that it was unfair that you'd lose your distance advantage over shorter hitters. Yes he can move up a tee box but then you're not in direct competition. In any situation where you're competing then you haven't lost any advantage by being a longer hitter. Thus it's not unfair to you.
I'm not sure I get what you're saying, because you're certainly in direct competition with other golfers on the same course no matter what tees you're playing from, and to ensure that this is the case, the USGA has done a lot of work to devise a slope system to gauge your performance against a factor of difficulty. Or is that an example of "indirect" competition to you?
The entire handicap system has been very well thought out just to take these factors into account. No?