LLMs made it harder to run bug bounty programs where anyone can submit stuff, and where a lot of people flooded them with seemingly well-written but ultimately wrong reports.
On the other hand, the newest generation of these LLMs (in their top configuration) finally understands the problem domain well enough to identify legitimate issues.
I think a lot of judging of LLMs happens on the free and cheaper tiers, and quality on those tiers is indeed bad. If you set up a bug bounty program, you'll necessarily get bad quality reports (as cost of submission is 0 usually).
On the other hand, if instead of a bug bounty program you have an "top tier LLM bug searching program", then then the quality bar can be ensured, and maintainers will be getting high quality reports.
Maybe one can save bug bounty programs by requiring a fee to be paid, idk, or by using LLM there, too.