I think the several experiences in working with different projects has made bounty hunters very experienced. They can determine a good project from the start but some of the investors are just new and do not really determine a promising project from a scam and in the end scammers run away with their money. So bounty hunters who invest in ICOs will never invest if they do not trust the project.
I think both bounty hunters and investors have they same level of learnings in cryptocurrency. If they are both newbie, they also both studying first and researching cryptocurrency. Both investors and bounty hunters have they same factors to look for to identify scam crypto investment and ICO.