During bull market lost of project always get launched and this means there will be many Bounties getting launched as well as project look for ways to advertise their projects to get investors to know about them and make investment in them. As many bounties get launched there's a possibility of some coming out successful to hunters.
The reason bounties aren't profitable is because we're in a bear market and there isn't much money flowing in the market so many projects will find it hard to raise capital for their pre-sale and public sale to get money to list on top exchanges that'll make their coins known by many and get both the investors and traders, buying and trading their coins.
During bull market many projects will get lots of interest from investors and so will the projects launching bounty campaign which will give the participants good profits. But those profits will not last long because many Bounty hunters will be selling the tokens they received from the bounty campaigns which will make the price to fall.