Point 1.
Many bounty hunters hold tokens and coins they earn from bounties, not all of them are dumpers,
Not all of them are dumpers I agree but most of them are joining the bounty campaign for the sake of profit so they are playing a big role too in dumping the token aside from the investors and the team itself who are dumping most of the tokens.
Point 2.
and it's ridiculous if a project dumps because of bounties and airdrops promotions that's suppose to drive in many investors for them
These kind of promotions will surely help the project but the dumping of the bounty hunters is inevitable. They aren't the "ONLY" responsible for the dumps but also the investors and the team too.
Point 3.
Bounties allocations are not even up to 1% of the projects max allocations, the most projects I've seen only gives out 0.1% and some even gives out only 0.01%
Yep I agree with this but they also play a role in dumping alongside with the investors and the team

.
Overall, bounty hunters aren't the "ONLY" one who is responsible for the dumping of the token but also the team and the investors. Lets face it that most of them are just investing or joining just because of the profit and not because of the technology behind the project itself. Yes there are some who choose to hold the token they got but it is a huge risk to them because I don't see any project that didn't dump as they are getting listed on an exchange.