I too have noticed that some Bounty managers recive impressive amount of merits for their threads.
As some members here already pointed out, this is a 50/50 situation.
Some do not deserve the merits, i feel that some bounty threads get merited when bounty hunters get a juicy payout even if the campaign was not adminstred in high level.
But there are cases when Threads are merited because Bounty manager is doing a good job compared to other bounty managers who sometimes are doing so bad job that I wish i could demerit them
But whatever the case it would be very hard to implement any rules on this without human evaluation on every situation.