To clarify further, candidates like Count Binface, Lord Buckethead, etc will stand in elections as the political equivalent of some dangly shiny keys to distract toddlers - there are always people who want to protest vote, and also people who will do what they think is funniest. So, these guys will stand in constituencies where important candidates are running to mop up the idiot votes and help protect the integrity of the actual contest. This is why they run in the constituency where the incumbent prime minister stands.
Here, it's necessary because of the exceptionally weird situation described above
HOWEVER, I should stress that there are actually multiple candidates - no post I've seen on this subject on Tumblr this far seems to mention this, so I think everyone is coming away with the idea that it's Farage or Binface. Ad OP says, no MAJOR parties are standing - even the Tories are calling this "Farage's fake by-election" (insert the Good Place "Even Jason got it? This one hurts" meme). But, there are currently nine confirmed candidates! Let's take a look at the high quality the people of Clacton are being given:
Nigel Farage. See above. He is standing for Reform, the UK's main far-right party which is splintering into identical sounding smaller parties even as we speak
Count Binface, the political extra-terrestrial alter ego of comedian Jonathan David Harvey (his stand-up shows are currently selling the fuck out lol)
Reclaim, one of the splinters from Reform, are sending infamous washed-up racist actor and all round piece of shit Laurence Fox, a man who simply will not stop partaking of his favourite hobby, which is losing defamation lawsuits for calling gay men and drag queens paedophiles
The British Democratic Party, a splinter group founded by former National Front members from the British National Party who felt the BNP was getting too soft and left-wing, are sending Kai Stephens.
The Forward Party, a party so obscure they don't even have a Wikipedia page, are sending Adham Alkhatip. He, too, does not have a Wikipedia page
And now! The independents!
6. Piers Corbyn, a conspiracy theorist who thinks climate change and COVID are hoaxes and is friends with David Icke (and describes his ex-wife as a Jewess)
7. Rob Pownall, an anti-fox hunting campaigner who likes to stand for election while dressed as a fox
8. Ollie Granger, a television personality
9. Luke Worley, a reality TV guy who, unlike everyone else on this list, is actually from Clacton
Meanwhile, the Monster Raving Loony Party have stated that they intend to field a candidate. So between Binface, the fox guy and whoever they choose, we might actually get three separate candidates in fancy dress to watch Nigel Farage's weird temper tantrum