First of all, while I can see how he would come across as frightening to younger viewers, he never really scared me as a kid. This was probably due to the fact that I had seen much scarier characters and things than Bumble. And secondly, I don't really consider him a full-on villain. If anything, I think he was just a genuinely friendly yeti who only acted scary and mean out of the pain caused by his terrible toothache.
Also, just as a side note, I think he and Snowy, the yeti featured in the DuckTales episode, "The Lost Crown of Genghis Khan," would honestly make a rather adorable couple.