Exactly, it is obvious the developers and the investors are using the bounty hunters as scapegoats for their failure, investors do not want to admit they made a mistake and in their desperation they will try to blame anyone expect themselves for this and the bounty hunters are an easy target, on the other hand the developers do not want to admit their failure either and they can always blame the bounty hunters as people that do not believe in the project and that caused the crash that eventually destroyed the faith on the coin but such an accusation is absurd when you really think about it.
Not just for their failure, I think some developers are just using hunters as an excuse to dump there own token anytime they sees an opportunity to do so, we can't deny that some dev are very greedy, as soon as the reward of hunters are about to be distributed or already distributed they will decide to dump their share as well making it look like hunters are at fault.
I am not an expert on bounty hunting and all the tactics that developers may use to try to blame them however what you say makes perfect sense, after all for the most part the developers are the ones that decide when to give their coins to the bounty hunters and as such they can use this knowledge to do insider trading and take advantage of this and sell a bunch of coins in the market and then blame bounty hunters because of it, however anyone doing that should be reminded of something, that is illegal and the authorities may come knocking on your door if you keep doing this.