Earlier quoted context omitted.
No, I don't think this logic holds, at all.
Which part does not follow? Even supposing that the members of Apple's bug bounty team are all well-meaning, but that the program itself is chronically mismanaged, one might conjecture that Apple is disincentivized from investing in making the program better-managed.
(I have no opinions in either direction about whether Apple is denying bounty payments because of difficulties operating the program!)