No not really. I can assure you that not all bounty hunters will dump their bounties once it will hit the exchange because I for one will hold my bounties until it is the right time to sell them. Maybe you are right that we need to understand the project itself because if that project is good then probably that coin have a high probability to go to the moon and you will regret later why you dump it early, it is a common experience here in crypto world.
I agree with You. But you can also regret that you have not sold the coins at once. Especially when you see that the coins fell in price.
Usually 1-2 percent of coins are distributed on the bounty. Such a small volume should not affect the price of the entire project.