Another point not to be missed is that so many other makers use solid finishes. Ever see the wood under a stripped Black Les Paul Custom? THAT's why they painted them.
Sonically it sounded great, but eliminated hand sorting, book matching, saved money, all of which is REAL important when you're slamming out a couple hundred guitars a day. That sort of hand-picking the woods was usually reserved strictly for the best archtops or box guitars: Straight grain spruce, fiddle back/ flame maple for the back and sides, etc., since these were usually in see thru finishes. Solid bodies were regarded as a lesser instrument after these, so in the mindset of the day, you didn't see the fancy woods in them as often. That's how you wind up with flame top Pauls from the late 50s that are obviously NOT book matched on top, yet so dearly lusted after. Archtops were Lincolns, solid bodies were Fords.
It's just become the standard style for traditional electric guitars. You can see very expensive Custom Shop Fenders and Tom Murphy Gibsons all over the place, but the twists applied are rarely the body or neck wood. Fender occasionally offers 'other wood' examples (they're offering Koa Strats this year, Gibson periodically reissues something in korina) but these will NOT be big ticket items at Gruhns or Elderly 20 years from now. The only exception I can think of are the Rosewood Teles because of George, but they're usually so heavy it limits their appeal.
I'm hoping as more and more acoustics show up in exotic woods, this will influence electric style.
I'd be interested to pick the Warmoth Brothers' mind, what would be the rough mix of Strat bodies and necks they sell in traditional (ash, alder, maple) vs. non-traditional (mahogany, koa, laminated top, etc.) woods. Or the percentage of ebony fingerboard necks.
Guitar players are way more locked into a more narrow tradition than bassists, instrument wise.
Except for our friends here who drive Tributes, California Specials, etc., obvious examples of much higher intelligence and impeccable taste ! !
J o e y