I've read those articles defending it as well....and of course they have a very vested interest in propping it up.  But the real issues are in the demographics where the fans are aging and no longer playing, business types have gone to other sports, the younger generations no longer have the disposable income to buy the expensive gear nor do they want to spend hours of practice to become competent when their friends don't play. 
The money (Forbes, Bloomberg, etc) is on continued decline, particularly on public courses dependent upon  those who can't afford to belong to a private club. "The golf division that Adidas announced was for sale last May — which includes golf club maker TaylorMade, and the much smaller Adams and Ashworth brands — is losing between $75 million and $100 million a year, according to sources close to recent deal talks."  http://nypost.com/2017/02/27/adidas-struggling-to-sell-taylormade-equipment-brand/