To my mind, running around in the street with a small herd of ornery bulls makes as much sense as jumping into a pit full of rattlesnakes and beating them with a stick.
I don't dispute that there is a lot of skill, artistry, pageantry and athleticism involved in professional bullfighting, but when it's done for a paying audience, what you see is a game that is rigged against the bull, so the crowd gets their adrenaline rush and everyone has a great time (not including the bull, of course). And the bullfighting industry reaps the profit.
But what does Pamplona get? The local hospital gets a short-term economic boost, the journalists have a brief field day, maybe the local hotels get a flurry of visitors eager to witness the madness for themselves. The people who run in the streets seem to me to be the same kind of people who drink two bottles of vodka and then see how close they can shoot a pistol so it hits the shoe but misses the toes.