Which process ensures that the company should actually care in the slightest about an uncharitable blog post or two, especially when its motivations are opaque enough that the lack of payment might be chalked up to "there's a good reason for that"?
If the cost of an uncharitable blog post is less than the cost of paying out the bounty, then a company would still be incentivized to find as many reasons to reject a payout as possible, as long as future reporters still believe they have a good chance of receiving a payout (e.g., if they believe they can sideskirt any rejection reasons).