I don't call it running, I call it Kiting.
John Makdesi did this recently and in fucking awesome fashion.
Carlos did it to Nick and it was executed well (this coming from the biggest Diaz fan)
It exploits fighters who fight in straight lines, if you cut angles and circle you can stop an opponents offense, look at Dominick, he fights in acute and obtuse angles, never in straight lines.
People don't like it but I think it's a viable option, Tim did it to Lombard.
In my opinion if the fighter coming straight forward doesn't have the sensibility to NOT fall into a failing perpetual game plan he should get battered while running down his opponent.
If nick would have just stopped moving forward in that fight... he could have stifled Carlos's game-plan. But thats not what happened, most fighters who fight in straight forward lines never stop.