Having worked in at a large tech company with a big bug bounty program and seeing tonnes of bugs come through, my experience is that usually there is a wide disconnect between the bug bounty program (situated in one org of the company) and the engineering group responsible for fixing the bug (which is in a different part of the company.) This is exacerbated by misaligned incentives, bug bounty team wants fixes ASAP while PMs/TPMs dont care about security and want engineers to be busy on feature development vs fixing bugs. On top of that if the leader of that org comes from a non-tech background then its even harder to convince them to prioritize security. Bug bounty teams are mostly powerless pawns in the politics between leaders of several different orgs with varying cultures of caring about security.
This is roughly how I have seen things work internally:
* When a bug report comes in, the bug bounty triage team tries their best to triage the bug and if legit, passes it on to the infosec team situated within the organization where the bug belongs.
* Security team for the org then scrambles to figure out which exact team the bug belongs to assigns it to them.
* A day or two later that team picks up the bug and there is usual back forth on ownership, "oh, this is that part which this another team wrote and no one from that time now works at the company" or "its not us, its another team, please reassign."
* Even when the right team is assigned to the bug, there are discussions about priority and severity - "oh we dont think its a high sev issue" types of discussions with PMs who have no knowledge about security.
* Even when everything gets aligned, sometimes the fix is so complicated that it cant be fixed within SLA. In the meantime, security researchers threaten to go public, throws tantrums on Twitter while Bug bounty chases internal teams for a fix.
* When the bug cannot be fixed within SLA, the engineering folks file for an exception. This then gets escalated to a senior leader who needs to approve an exception with agreement from a leader within security. This takes a couple of days to weeks and in the meantime, security researcher has now completely lost it because they think no one is paying attention to this crazy oh so critical bug they spent day and night working on.
* When exception is granted, bug bounty swallows the pill and tries to make up excuses on why it cant be fixed soon. Eventually, 90days are over and researcher feels disrespected and establishes animosity and starts to think everyone on the other side a complete idiot.
* A blog shows up on HN and gets picked up by infosec twitter and slowly media catches up. Now, internally everyone scrambles to figure out what to do. Bug bounty team says "we told you so" and engineering team figures out a magical quick band-aid solution that stops the bleeding and partially fixes the bug.