@webmink What makes you think that this EU bug bounty will be bad? Is it based on the experience of the previous rounds, the design of this round, or something about Intigriti?
There was some discussion in the #EUFOSSA report on how they intended to counter the risks you mention. The bug bounty manager is supposed to help with reducing workload and the "20% bonus if the fix is also provided" is supposed to help with producing solutions too.
Not sure whether projects are involved voluntarily.