It always depend on the roadmap and the platform, even if they are created by newbies or legendary members but the project do not offer anything or real use case, newbies do not have impact on the project, it's the potential that will make investors invest, bounty hunters promote and the community will support.
Respectable bounty managers will not allow themselves to be involved in scummy projects and will, at the first hint of problems, remove themselves from the project and alert the community. Therefore, yes, the credibility of the bounty manager can very often indicate the credibility of the project.
Personally, I would never trust a project run by a newbie bounty manager. If they don't have the resources to hire a bounty manager, how can they have enough resources to launch a project successfully?