I've posted in favor of this elsewhere as well, but I want to reiterate, I think this is one of the most significant and best things to have happened on WGT in a long while.
It opens the door for so many creative possibilities. As MB says, one approach could be to have tourneys with no driver, or no wedges, or starter gear, etc., forcing some creative hole strategy and shot-making...
... Another approach could be to offer tourneys based on particular club set combinations (e.g. Andyson's G20 set). This instantly addresses many of the issues that frustrate players stuck in a particular tier with high-level clubs too far distant on the horizon. The chance to know that you might be competitive in certain tourneys with the club set you're familiar with is bound to be appealing, and could help retain interest for players who might feel stuck. And, even if the high-rollers do want to club down (or purchase down) from their R11s to join in such a tourney, it's extra income for WGT, and they'll still have to play on a more level playing field, and face the challenge of adjusting to different clubs.
... And a third approach could be the kind of creative new sets such as The Old Tom Morris, which would be just fantastic.
In Tough-It-Out III, which just wrapped, one of our players started a nice discussion about how wonderful it would be to have hickory clubs on WGT. See posts here. We've found in TIO that players love the challenge of how to get close to Old Man Par using very basic gear. Although initially it seems like torture (lol!), it gives you a whole new appreciation for the courses and the versatility of WGT's creation.
One thing I would urge WGT to consider, though, is to find a way to clearly delineate (perhaps with a separate section) Restricted Equipment events in the Game Menu. It could get awfully cluttered otherwise, as I do hope that there will many on offer at a given time (along with the return of some dedicated Uneven Lie events too, hint, hint!).