I would say that this is not quite a reward for bounty hunters, in the usual form, it is rather a reward for technical assistance to the project. But still, this is a very generous encouragement and there will certainly be users who can help the project.
Now there is a big problems with safe of the tokens. Many tokens are not secure and hackers steal the tokens from the wallets and exchanges. I think that bug bounty will be very useful for secure of the tokens.