Welcome back @BornInCantaloup, we have missed you!
Yeah, in theory bulbing is really bad. You spend alot of long term potential and sustained momentum for a short burst.
Why it's really good in practice is because that burst can at a critical moment get you an edge that you can leverage. (Most common, conquer alot of cities for cheap).
A regular bulb-strategy to acquire a military tech leaves you deprived of a) production and b) research. Bulb, bulb, bulb : you reach a plateau. Then you can either have hammers or commerce : not both. It's the same trouble you get when you spend the game building Wealth : when you stop (to build units), then you lose your research power by lack of infrastructure.
Yeah, in theory bulbing is really bad. You spend alot of long term potential and sustained momentum for a short burst.
Why it's really good in practice is because that burst can at a critical moment get you an edge that you can leverage. (Most common, conquer alot of cities for cheap).