I think it can be a good decision not to do bounties. It has pros and cons of course, but at least there won't be the usual bounty dumpers.
I guess that is because they have other marketing campaings in mind. Maybe they don't have enough money for everything and had to make a choice.
so this project will not you have a bounty campaign? perhaps they have in mind other methods to promote, advertise the ico...
Bounties are an easy way to promote a project for a cheap price.
I agree with you, a cheap and effective way to promote the project and attract of investors.
Ya they know the pros and cons, but they've been thinking about this
And this is the result :
After careful consideration of all pros and cons, it is not suitable for our type of project, therefore we decided not to proceed with bounties.