Look closely to the last successful projects, how some projects bring success without any bounty campaign. One project has several community one if is bounty hunters. Even after 4-5 years some bounty don't leave their favorite project. As like rest of the community isn't enough to make success any project because investor are worry to lose their money.
Right, there are many successful projects that don't hold a bounty campaign. They choose other ways to build a large community that can attract investors, for example by holding an IEO on a global exchange top. There are also those who maximize their products and collaborate with other large and trusted companies. However, the bounty campaign is one of the best choices for building a community, as long as it is managed well so that its main goal can be achieved.