⭐ Merited by TheUltraElite (1)
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Or is the whole of crypto not actually building products 
I would honestly say yes and no. There are good quality projects being developed but there is a shit ton of shit projects being promoted heavily though the trend has reduced to some extent. You see the whole project development thing is good and people join them provide their services and get paid. Its like a day job there.
This is not the same as what the word "bounty" is commonly used for here. The term you are looking for is "team member" I believe. Bounty is for rewarding some users who take part in promoting the project and not develop the project.
I think some people in this thread are actually talking about BUG BOUNTIES (also already mentioned). And it's a real thing, that some projects do a lot of. So you have two types of development, one which is to help code or build something, in which case it shouldn't be called a bounty like you said. The other is a reward for finding problems that would be dangerous for users, and helps devs fix, hence bug bounty.