Why is bullet chess so successful ?

With such severe time constraints, time management becomes more important than the other elements of the game: material, space, king safety, etc. It shifts so much emphasis onto time management that it nearly becomes a different game all together. It certainly becomes a profoundly different game experience compared to non-timed chess or regular tournament chess. I think many people like blitz and bullet because they are able to master the singlular skill of time management and succeed with it, rather than the considerably more difficult path of full chess mastery needed to succeed at the game with longer time controls (or worse, none at all).