Spaniard here (I don't like bullfighting AT ALL, I despise it, but just for the sake of explanation)
Bullfight is not considered a "sport" in any way. There is no competition, and their supporters calls it "an art" (which it's too big a word for what it is IMHO).
It is closer to a "performance", a daredevil act where the bullfighter performs calculated dangerous acts aiming to create something exciting and aesthetically pleasant for the public.
Instead of a big ramp, there is a dangerous living animal, adding risk and unpredictability to the mix.
Since the discovery of antibiotics and modern medicine, is not as dangerous as it used to be (there is an sculpture devoted to Fleming on the most important bullring in Madrid), but it's still quite a risky activity.
It is also banned on the Canary Islands (since 1991). I'd say that most of spaniards oppose it (especially younger people), but there is a significant group of supporters, and given that's it's a tradition that has hundreds of years, it's difficult to ban.
Again, I don't like it AT ALL. It is disgusting. But it's also not well understood outside of Spain, so I'm trying to give some clarification. Please feel free to AMA.