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.
For example, I generally see this approach to the bounty for the first time. The project is not trying to advertise itself, but is trying to improve the freedom of the security system and, accordingly, the security of investor money. It is worthy of respect!