This depends on the ICO you are talking about but in general, If an ICO has a lot of bounty hunters, there's no point working on bounty. If it reaches that point, the ICO is probably good and hence a good investment. Ive seen ICOs that didnt have enough publicity but had a lot of potential in them, the bounty hunters capitalized on them and made some quick bucks. Most hunters exchange as soon the coin hits the market. In such cases, bounty is better than the ICO itself but in the first case ICO is better.