Can people be able to increase the amount of bounty after they put the bounty on a question? If there isn't, I think it should be because when a question still stays unanswered after you put a bounty on it, you should be able to add more bounty to get the question answered more quickly. Isn't the objective of bounties inducing people to answer the questions? All in all, there should be a command to add more bounty to a question that has already been offered a bounty. Because, it would be time saving since you have to wait a week to offer more bounty on the question with this system.
It seems we must have violated causality (only logical explanation) because almost a year ago someone posted a suspiciously similar feature request on the mother meta that includes the stuff we talked about.
It doesn't look like any mods really looked it over thoroughly and I didn't see many persuasive arguments against it. So with that in mind, I'd be for allowing people to feed-the-meter as long as protective measures like an increasing minimum rep payment is implemented. Perhaps also, the any rep from the bounty that is 7 days old should be treated like 7 day old bounties in the current system to prevent users from building up questions with 5000 rep bounties, which could effectively bypass the rep cap to let them do all sorts of things (get their friends to trusted status in a week, for example). Or there should be a maximum rep cap on bounties that's, say, 3X the current max rep.
But these are just ideas, I'm for it until I hear a good argument against it. The details can be worked out by people more motivated than I.