Since every 3rd message on this thread (at the time I wrote this) is about how Google underpaid for this bug, some quick basic things about vulnerability valuations:
* Valuations for server-side vulnerabilities are low, because vendors don't compete for them. There is effectively no grey market for a server-side vulnerability. It is difficult for a third party to put a price on a bug that Google can kill instantaneously, that has effectively no half-life once discovered, and whose exploitation will generate reliable telemetry from the target.
* Similarly, bugs like full-chain Android/Chrome go for hundreds of thousands of dollars because Google competes with a well-established grey market; a firm can take that bug and sell it to potentially 6 different agencies at a single European country.
* Even then, bounty vs. grey market is an apples-oranges comparison. Google will pay substantially less than the grey market, because Google doesn't need a reliable exploit (just proof that one can be written) and doesn't need to pay maintenance. The rest of the market will pay a total amount that is heavily tranched and subject to risk; Google can offer a lump-sum payment which is attractive even if discounted.
* Threat actors buy vulnerabilities that fit into existing business processes. They do not, as a general rule, speculate on all the cool things they might do with some new kind of vulnerability and all the ways they might make money with it. Collecting payment information? Racking up thousands of machines for a botnet? Existing business processes. Unmasking Google accounts? Could there be a business there? Sure, maybe. Is there one already? Presumably no.
A bounty payout is not generally a referendum on how clever or exciting a bug is. Here, it kind of is, though, because $10,000 feels extraordinarily high for a server-side web bug.
For people who make their nut finding these kinds of bugs, the business strategy is to get good at finding lots of them. It's not like iOS exploit development, where you might sink months into a single reliable exploit.
This is closer to the kind of vulnerability research I've done recently in my career than a lot of other vuln work, so I'm reasonably confident. But there are people on HN who actually full-time do this kind of bounty work, and I'd be thrilled to be corrected by any of them.