Some of these unwritten rules are just stupid, and this is one. There's the fair territory right in front of you, infield and outfield. The name of the game is to put bat on ball in such a way that the fielder can't get you out before you get to at least 1B. So I don't see why bunting is "cheap." You're actually giving them a better chance to get you out than a base hit to the OF. I wonder if it was very different in the early days of the game, when the bunt and Baltimore chop were more parts of the game?
I remember Schilling whining about losing a perfect game attempt this way a few years ago and all I could think of was STFU dude.