I dont think they will distribute rewards at all. And you are right about finding a reason do disqualify.
I still think they will distribute the reward to bounty hunters. And even if they don't distribute the reward, bounty hunters have no way of disobeying their rules. A few days ago, they posted a news in their telegram that 450 people have joined their telegram but 700 people have filled up the form. So they will manually check all the applications and eliminate the scammers.