ICO and IEO are for raising funds, what about bounty? To create awareness around the web to get more investors right? This makes it two ways for projects to gain investors, I would have said ' why do new projects need bounty hunters for then' but bounty hunters are playing a big role here as you can see that's why we keep seeing bounty campaigns from IEO projects, although not all of IEO cares about bounties
Bounties or campaign is always a thing here in the forum and in my opinion the campaign could always be effective most of the time as long as the campaign was done the right way.
I think the thing here is trust in the ICO and IEO itself I think this times a lot of them do not reach a goal fund for the project just because a lot of people here in the cryptocurrency community is already done trusting a lot of campaign like this and if you are just going to think about it, I think it might be pointless to do a thousand more token in the market because there are already a lot of it in the market and the demand of the community is not enough to buy or invest in all of the tokens in the market making a token ending up to be a dead token in the end.
Promoting bounties could always be effective even in different platform and I think it is always successful, even google and youtube are paying for ads because they know that it is powerful.