Literally, when an ICO fails, bounty campaigns will also fail. That is not new in the world of crypto startups especially when the project doesn't hit the desired fundings form them to continue their project. It's only then you will realize that you are just wasting your time doing weekly works for the campaign.
Except for bounties that pay out in tokens already created, or even those that pay out in liquid cryptocurrency (Bitcoin and ETH). If I recall properly one of my very early signature campaigns more or less had a failed ICO in the sense they did not collect enough funds but they paid out anyway and we still decided to proceed. I've also seen one that failed in end of 2016, and just went ahead to develop throughout 2017 and now, and they're about to try for another very small round of crowdfund.