I've used that phrase before, but never for people who participate with regular Bitcoin-based campaigns.
Bounty hunters who participate in altcoin campaigns do usually for that description. They'll end up working weeks for something that's barely even worth anything in the end.
They're also the biggest spammers usually.
This became quite evident very recently. At the boom of the ICO market when Bitcoin rallied to it's current all time high, there were lots of altcoin signatures whose payments were very substantial when they hit the market and even better a few weeks or months later. I can even think of some of the top of my head.
I can't speak for the altcoin market now, as I don't really participate or follow their discussions. But if the altcoin general value is anything to go by, it's not a very good period.