Bullet is more fun in some ways because you get to come up with plans and play out the moves, and your opponent doesn't get the chance to think about how to stop you.
From what I have watched of the highest levels of bullet chess (e.g., Magnus vs Alireza, Magnus vs MVL, etc.), top players *do* realise both what their opponents are planning and how to stop their opponents plans even in such a short timeframe, and the real test becomes one of judging what to prioritise and when. So between top GMs, bullet is much more akin to real chess than it is between mere mortals like you or me.
From what I have watched of the highest levels of bullet chess (e.g., Magnus vs Alireza, Magnus vs MVL, etc.), top players *do* realise both what their opponents are planning and how to stop their opponents plans even in such a short timeframe, and the real test becomes one of judging what to prioritise and when. So between top GMs, bullet is much more akin to real chess than it is between mere mortals like you or me.