Those schools that train only for competition I would hope place a focus on good sportsmanship, and I question whether the behavior under discussion (fist pumping and such) falls into that category. I suppose that as long as both participants are on the same page that its alright, but I find it out of place in the martial arts.
I am not sure I can explain it any other way. God knows I have tried to explain it every way possible. I think this is my last stab at it.
The Olympic sport of Taekwondo and the Martial Art of Taekwondo both share a name "Taekwondo" just like a Yugo Automobile and a Ferrari Automobile both share the name "Automobile".
But for both of the above, the common name is about all they have in common. It is pointless to try to compare the 2 I really wish Olympic TKD would just change its name, then maybe this nonsense of trying to compare the 2 would end.