KYC stands for Know Your Customer it implemented only for all the investors of the project in order to know their credibility as an investor and make sure that the money their going to invest is not from illegal activities or money laundering.
For what I've known there are 2 reasons why KYC is implemented on the bounties:
1. To control the greed bounty hunters who uses different altcoin to abuse the campaign
2. To steal your Identity (Identity theft)
And for your topic which is team needs to pass KYC... and where are they going to conduct their KYC test? the thing here is that the investor and everyone of us should study the project first and don't easily give our personal information.
That's right it's important to make research before we participate in any campaign or invest on it. Because kyc have no assurance if your identity is safe. Make sure that the project is really good and have real team. Although this day is hard to find good one but still there's some projects that we can trust and have potential to be successful.