no, bounties and airdrops never kill projects, tokens for bounties and airdrops are less than 2%, while the bonuses that investors get are far more than the bounty and airdrop allocations. those who dump on the exchange are of course investors, but if the project is good and there is a lot of demand in the market, the project will not experience a dump
The hunters needed a lot of time before their can receive their payments too and then that doesn't make sense to attack the hunters that become the main causes for all of the dumps that happened in altcoins. Some people have made wrong accusations about this.