I agree, they are both annoying. But at least when somebody holds the referee can take the matter into his hands and either deduct points or disqualify the boxer(if it is really bad ala Ruiz), while when somebody just runs around the ring, the ref cannot do any of the above.
Holding is worse... I mean, running is part of the strategy, you cant be DQ for running, ur opponent must adjust..., while holding is illegal, and ur opponent cant do **** if u hold him for ever.
You can have a NC for lack of action though(in regards running) , both of them are bad as each other .
with running there is at least some kind of action. coupled with the anticipation of the chaser catching the runner:bbb
although running is part of the game plan, but gee it is annoying. if that fighter wins, it is nothing special or nothing to brag about. for sure nuthuggers for that fighter will consider it a masterpiece but please... give me a break :-( holding can be stopped by the ref.