I understand — for the most part — why it is counterproductive in the modern game in most cases, but it's fun. The ball is actually in play. A runner is running hard. An infielder has to make a difficult play. Just the novelty of a guy bunting for a base hit (especially against the shift) is probably more interesting than a home run at this point. 

Some of the all time greats at bunting like Brett Butler, Kenny Lofton and Rod Carew were a lot of fun to watch.