And Inuites survived for centuries on this, so it must have some merits.
Most absolutely it does. It sounds bad for us because it is bad for us. When we're working an indoor desk job we don't require near the intake that someone living and hunting in the arctic would.
This makes me think of a show I saw on TV, how the earlier lumberjacks c.1900 were eating massive 5000+ calorie meals, but they were like 135 lb. guys chopping trees all day before the rise of power saws and equipment. Now I'm not a huge guy, a little taller and heavier than the average at 6 feet and hovering just under 200 lbs. so 135 sounds damn puny, but these guys were solid muscle.
When you have an activity level like that, eating like that isn't a killer diet because the body is consuming protein and fat voraciously. I'm sure a good pizza or steak would be soon missed on the arctic plains, but that's probably the only circumstances that would get me sick of eating bacon.
Because, yeah...bacon good. Bacon FTW. :)