I don't think live rock is really a renewable resource if any of it is cultured in the ocean. Even if the rocks are dumped into the ocean, by taking them out of the ocean you are removing organisms from the wild. I think overall, the aquacultured rock is probably less destructive.
The longer I have been in the hobby, the less live rock I have bought whenever I start up my tanks.
My current 60 gallon tank was set up again only using 5 pounds of live aquacultured rock. The rest was made out of a portland cement mixture. Surprisingly, it actually looks really good.