Whole idea behind Lake O'Hara is conservation of very unique and beautiful alpine area. Conservation is excellent idea, everyone agrees. But it is not implemented in best manner. First, you have commercial cabins on the lake for rich people. Second you have this bus/campground lottery which has become one giant mess.
I'd seriously consider couple of things:
1) No buses. Period. But allow cycling. This can only decrease # of visitors
2) Investigate feasibility of back-country campground at Cathedral Lakes / Morning Glory valley. This is ~45min hike (trail) from Elizabeth Parker Hut by Lake O'Hara. This would take load off main O'Hara campground; combined with self-propelled approach (hike/bike) it would make it easier for back-country enthusiasts, with keeping tourons off.
3) Fix the bridge at Cataract Brook trail. This is hiking trail that runs parallel to O'Hara road. It is not the most scenic hiking trail in Rockies, but it is still nicer than walking on road -- it has forest, meadows, etc. Right now trail has been closed for several years because of collapsed bridge they don't want to fix.
This would make the area real back-country destination -- no bus, bike on road, hike on trail with campsites easier to come by because of 2nd campground.
[Cathedral Lake below Odaray Mtn, that would make great back-country wilderness campsite]
Just my 5 cents, won't do squat I know