It depends on the project. I think some is worth it and some is not. I started my airdrop last October 2017 and stopped last mid of April. I bought Bicycle ($100) from airdrop. I stop airdrop when eth became down. And started Bounty.
Bounties seem dead is because people are choosing the wrong kinds of campaigns looking to get rich quick by joining any and every campaign, especially from projects that offer little to no innovation to the sector and will most likely fail, never reallly getting off the ground.
There's dozens of projects on this forum right now, offering bounties that don't pay well up front, but will end up mooning without a doubt, due to the innovation they offer.