Plywood to me is a "slang" term for an old timber working method. As others have said in this thread, the quality of the timber laminate layers is high and laminating is the only cost effective way to make a hollow body guitar.
Maybe the correct term should be "laminated wood" rather than plywood which conjures up hardware store images of cheap panels of scrappy timber made from leftover wood that is pressed into sheets, glued, and steamed flat.
As "motowntom" says - his is 44 years old and hangs together just fine. Hardware store plywood won't last 44 years.
