It seems to me both options, although now I try to invest less as there are few good projects, if some campaign has strongly interested me, I try to take part in the bounty campaign.
But if all will not invest and will only want free coins then it is waste of time to work for bounty as these projects fail which do not collect money. We have to invest in these good and legit projects and have to invite investors to invest in them and along with that we have to collect the bounty coins to get a valuable coin.