It is not a secret that most for now ICO is a bubble and there is too many projects trying to gather funds this way. I expect this bubble to dump in the next year and then we will be able to see the real amount of ICOs. This will definetely affect the bounty campaigns on this forum. What are you expecting? Will the bounty campaigns change their rates (not only in btc but also in usd value) or they just won't be affective and devs will give up on them?
I'm curious to hear the opinion of mature users of this forum that seen the developement of such campaign activities.
It is true that there are several scam projects out there and a lot of them them will burst as you have rightly expounded and that will create a room for the more serious projects to launch as well and have a platform to reach the amount of audiences that is needed. However, the end of the ICOs is not going to end just yet because the entire market is decentralised and newbies coming into the space will continue to fall prey of such ICOs.
Concerning the future of campaign, a lot of opportunity will also be open because advertisement will now be focused on quality rather than quantity. People who want to join campaigns will then have to go through serious screening and deliver content for what they are being paid, the forum will get a lot more saner as the activities will be about quality and finally the amount to be paid will also increase because quality is now being delivered.