Your headline is deceptive.
No, Jana Partners (somebody) doesn't, per se, like the golf business. They like the break-up/strategic value of Callaway (ELY). As a long time investor in ELY, I agree with them that the Jack Wolfskin acquisition was both an unfocused, non-strategic move as well as a poor one for shareholders.
Callaway, like Achusnet(GOLF), was a pure play on the golf business with a significant stake in the very successful TopGolf business. Jana Partners simply wants to unlock that value...it is not a validation or bullish opinion on the business of golf.