KYC can easily be faked these days whether it maybe users or team developers. No one must take their investment decision solely based on KYC results. For bounty hunters it is a tideous task. They are not investing anything and they are not customers so there is really no need of KYC for them.
But KYC is the only way to redeem some coins earned by bounty hunters. They have no choice at all but to comply. For sure they are not customers but since they will be among those to whom the tokens are going to be distributed, they are also treated as customers or token owners.
KYC is not needed if someone just hold some tokens. In that case anyone who bought tokens from exchanges should also go through KYC process which is literally not possible for exchanges to work with token company to verify individual users.