Absolutely!
One of my favorite quotes is from the sportswriter Grantland Rice: "Eighteen holes of match play will teach you more about your foe than eighteen years of dealing with him across the desk."
Golf is an incredible filter for learning about people, especially in such a busy world where people rarely spend 4 hours focused on one thing. You need a little adversity to get to truly know someone. Watch someone on a golf course when everything isn't going their way, especially if it's someone used to being in control, and you'll get to learn their true character.
That is also part of the wonderful challenge of the game - it is so mental that whatever is going on in your head and your inner psychology at the moment manifests itself in your game. Many times I can refer to where the difference between a 75 and an 88 that day wasn't necessarily my swing or the conditions, but the mentality I brought to the course that day and how I handled the breaks along the way.
Golf is also microcosm of society - both good and bad. To the earlier posts - all the different ways the game can be played says a lot about it. Golf played on a muni course by a bunch of high school kids is a completely different game from members at a country club or a resort in carts, or in pure form at a links course. Too much technology in society these days? Well it should be no surprise it spills over to the course.
No other sport I can think of is so flexible to bend to all the different circumstances and conditions in which it is played, which is what will allow it to continue grow and prosper through the ages.
Many of the great experiences I've had in life are a direct result of the game, and most of my closest friendships were forged over a golf course. Golf may not be ALWAYS fun when it's not going your way, but over the course of life, what is? The appeal of the game to me is that - playing an always changing game that can never be mastered, outdoors in scenic places, with your closest friends.