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Bribery is a great way to get people to do what you want.It works in politics, why not software?Seriously though, I get it. It's hard work, a lot of time and some of the bounties don't seem like a fun project that you would jump into for the hell of it.
They encourage people that are capable to do work they otherwise may not have had an interest in. There's been plenty of long winded, tedious work that simply wouldnt have been done if it wasnt for the small monetary compensation. Trident is now open source under APL due to bounties, AROS now runs on 68k amigas with the assistance of bounties along with replacement kickstart along with a shedload of other things. Personally speaking I like to be able to say thanks with a few dollars when I can afford it too.