The actual problem is, I do not even think bounties are useful for project. There are thousands of projects on social media shared by those people. So how can one be seen better than other? Bounties should turn to 'Social mining' so people should compete with each other to create useful content. I really like the social mining concept to be honest.
Yes, agree that many bounty hunters take part in most of the bounty campaigns but that doesn't mean the project does not have good potential.
There are many projects which have a good potential but get hidden in the plethora of scam projects on the internet.
Bounty campaigns are a good way of promoting a project while earning some money but people have misused it a lot and hence too many scams started to take place.
These days people are much aware and alert of such scams.