Bodybuilders are judged on strict guidelines that they must adhere to by the largest amount over their competitors, in order to win. That doesn't always happen, but it's the ideal judging scenario. The fact that they're judged under any criteria, to determine the winner between two or more contestants, makes it a sport.
As I said, call it what you like. There are many names for it and whatever name you use will show your attitude towards the sport of bodybuilding. I'm more wholesome in that I see it as a competition, not a pagaent. Each to their own and there's nothing wrong with whatever you call it, as it's your opinion.