OP, you're confusing bhopping with continuous jumping. Both of which I am ok with depending on what game. It has a lot more to do with the rest of the game than what it do by itself.
The most popular bhopping is in CS 1.6 (ignoring previous cs version). Lets look at CS. Do bhopper get an advantage? In competitive play - player use bhop to get around part of map more fluid. They don't just bhop all over the place/ everywhere, just a small portion of the map/ situation. This is because if you jump you make a sound, if you jump your aim will be off, if you get shot when jumping you lose momentum and become a sitting duck.
To me CS 1.6 version of bhopping, crouch walk, crouch bounce, alt strafe, circle strafe are all acceptable. This is because of the penalty that arise when a player use such technique. Also in 1.6 you technically can't move a substantial amount faster. A player using knife travel 250 hammer unit in one sec, a quad air strafe net a player 255 hammer unit in the same time it take to run the distance. These advance movement all bring a new dynamic to the game. In games without these movement a player usually run out, get shot or shoot the other guy. BORING. However not knowing how a player might take a angle makes the game more fun and interesting. In TF2 however, a player can just spam jump as much as they want and there is absolutely no penalty. I think this is the kind of game you are piss off about.
OP, I find your argument very stupid. You argue realism and why not every player is able to perform such technique. For the latter; skill & practice. As for realism, I don't mean to be rude, but let me spell it out for you V-I-D-E-O G-A-M-E. Yes it is call a video game. I bet you don't like rocket jumping either.
I don' see the reason why the rest of us ( the majority) should have our game gimp because you don't find it fitting. I sure there are games out there that match your level of realism. BTW after all your ranting you never told us what game you are so mad about. And I don't think you're an old gamer if you don't like these old game mechanic. UT, Quake etc etc. I would say you're a rather new player to the FPS genre.