Your great-grandfather likely complained that quality heart pine was being replaced by cheap "natural wood" planks. Wood has been on the decline for decades and it's a stark reminder of how much of the natural world we've plundered as a species.

Luckily, cheap treated wood is pretty durable.

You are partially correct (and maybe more so with this product). But there are types of engineered woods and beams made from glued and pressed stick lumber/boards. Imagine the concept of plywood but with several 2X6s to replace a true 6”x12” beam which would be 1) not as dimensionally stable as wood naturally warps and 2) needs to be milled from a much larger tree. Engineered woods that are not made with harsh chemicals like Formaldehyde are often ligher, stronger, and can be made from younger, new-growth timber stands. We have a nostalgia for pure lumber but engineered woods are really a better building material for certain situations.

While we haven't run out of trees yet, better to use the scrap than not.

Umm... lookup formaldehyde off gassing and then let me know if you still think that.

Personally, I do not want a house constructed of wood + glue.