But is causing monetary loss to Facebook, specifically, worth much to anybody? Anybody who would take the risk of committing a crime to do so?
This bug deletes content on Instagram. Unless you are the most underhanded of Instagram competitors, or just want to cause wanton Instagram picture destruction, I don't see why you as a third party would pay for it. Also, since I assume FB has backups, this is at most a relatively sophisticated DOS attack. Now, if you could insert data then you have stage 1 of a APT deployment platform, which is a whole other story.
Also, you underestimate the lifetime potential earnings won of "I discovered an attack on one of the 2-3 most popular internet platforms on earth at 13 and practiced textbook responsible disclosure with it". Beyond that, selling bugs to the highest bidder is very hard to justify, ethically speaking, and a lot of people put a high price on their integrity.
IIRC FB/Instagram didn't payout on a report that took their entire AWS keys though...
If Facebook was sending t-shirts instead of writing 4-5 figure checks, these discussions would be more interesting. But that's not what Facebook does.
Put it this way: before Facebook started these bounty programs, what do you think the price sheet for Facebook bugs on the "black market" looked like?
https://cms-images.idgesg.net/images/article/2014/06/googles...