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So they've paid out $300k in two years? That sounds appallingly low and surely unappealing for anyone bug hunting professionally.

Congratulations, you're one of today's lucky 10,000:

Bug bounties are basically not designed to lure in security experts who live in a first-world country and who already have established a reputation.

It's crowdsourcing, and for-profit crowdsourcing is pretty much exploitative by definition.