These individuals are getting away with inciting violence and starting public disorder. They are taking advantage of disadvantaged members of society and just getting a quick laugh off of them. There is enough violence and hatred in the world that these sort of blatant disregards for humanity are unjust and in bad form.
I'm in the United States, where we actually do have liability laws about this sort of thing. Forget about the fact that it's disgusting exploitation for a minute. If you want to get involved with matching people up for fights, you need to have at the very least insurance and medical assistance standing by. There is no punishment as merciless as that which can be doled out by a regulatory division bureaucrat.
Anyone creating or producing bumfight films should face stricter penalties. These people often find unwilling participants and force them to participate. This not only goes beyond a disagreement that turns into an assault, but these people are doing it for money and popularity. They want to see how many hits they can get through social media and making copies for distribution to sell. This is beyond unethical and should be given a knockout punch.
There is nothing wrong with Bumfight films, while it may just seem like violence for violence's sake, it is at heart just a business transaction. The differences between professional fighting, where the winner is given a large prize, and Bumfighting is just a matter of scale, where the Bum's value of money differs from a professional.
No, they should not be penalized for making the bumfights films, because they are simply making movies so that they can become wealthy. The people who fight do so on their own, and no one forces them to fight each other to make money and be on these movies today.