Definitely each to their own, I don't wear an awful lot of makeup, but I do wear some, and sometimes wear a bit at races... who cares? I LOVE nail varnish too and have a collection of some fairly vivid through to frankly quite girly colours but this does not detract from the fact that I love getting muddy, most of my running is done off-road, trails and hill; pre-kids I was a serious rock-climbr and mountaineer and I LOVE mountain marathons as well as my ultras. Have on occasion had to spend more than several days with no access to proper washing facilities. Does this mean it's wrong to wear make-up? I don't think so ...
If it makes someone feel better about themselves, which is also what running is often about, then I say anything goes.
That said, I do not get people who overwhelm themselves with deodorant and then climb into the swimming pool - inhaling lungfuls of that is NOT pleasant