As a hacker on hackerone, this is not my understanding of the relationship. Generally speaking the programs give you "authorized access" under the CFAA conditional on following the disclosure guidelines. I don't know about for other countries, but for the US I'm pretty sure this means that breaking the guidelines means you've retroactively committed a felony.
Now seems a little questionable about if any federal prosecutor would actually take the case, but it definitely doesn't seem like a strictly civil issue to me.
Strongly agree on all other points though.