without bounty, ICO projects are done nothing, so its really need to implement a bounty program, because in the bounty, it can spread the project in terms of advertising/promoting it on some other multi-media platforms like FB, Twitter, Instagram, Medium and so on. the influence of the social media in all people is huge, meaning in this way bounty exist to promote ICO projects to get more investors/stake holders to get in into the projects, so bounty is so important in any individual projects that soon to come. and its an open opportunity on some individual members of this forum to earn extra income from the projects that has bounties.
I have seen a lot of ICOs, very promising ICOs which reached hard-cap in few days without doing bounty campaigns. So I do not think that bounty campaigns are necessary to raise money
. The most important thing is product and team. And if you have both, then you dont need any marketing
.