If you want hackers to report you vulnerabilities via Yahoo Bug Bounty Program, at least pay more than 50$ for a minimum bounty, 50$ is a joke https://hackerone.com/yahoo ...
Thank you
In contrast, if you've ever tried to responsibly disclose a vulnerability and gotten a threat from the legal department in response (still common practice in a lot of companies), a bug bounty program can be a very encouraging show of good faith.
Now, I have not seen too many people who would be doing it consistently for many years - simply because it gets tiresome. But it's the same thing for security consulting - at most consultancies, pentesters come and go.
I personally think that the opening created for those without the educational or economic opportunities available to developed world researchers is the best side effects of bug bounties.