If you knew want went through the victims heads, you would not make this argument. Living a life with depression and self-hate is awful. Trying to force kids to fit societal norms to this degree is not worth it. It's better to have kids who aren't as ready for adulthood, than kids suffering daily.
this would only be the case if bullying was able to be highly regulated, if we were able to interrupt when the bullying reaches its peek of positive effects, and when the effects start to become negative and long term. How would one effectively regulate bullying?
However, teaching kids to excel in more productive arenas would probably have a more positive effect on them, and no negative effect on others. In a way, athletics or any other form of competition can be the same as bullying, only instead of using your fists, you bully them with your awesomeness.
Where does competition become bullying. Often the 'loser' proclaims bullying when they may have entered into competition or confrontation willingly or even actively putting themselves in the path of confrontation only to 'lose' repeatedly.