I agree with you that IQ Bounty is actually an unless progress because their bounty reward is much less and there are more hunters than that. They want to distribute tokens to hunters for $0.33 targetcap but the value of their tokens is now $0.054 in the exchange market. In fact i think they want to promote their project for free and almost hunters are working blindly.
it's just a part of the project that is experiencing the same problem. Bounty Hunters have always had problems as you said. however, it is a risk that must be faced. Moreover, with no rules limiting participants, of course, it will be bad when the number of participants who join continues to increase.