According to Nikias Bassen, a security researcher for the company Zimperium, and who joined Apple’s program last year:
People can get more cash if they sell their bugs to others. If you’re just doing it for the money, you’re not going to give bugs to Apple directly.The program offers between $25,000 and $200,000 for an iOS or macOS exploit, depending on where it is and what it does. For now, the initiative is invite-only.
As The Loop’s Dave Mark put it, the question here is, are the bugs valuable enough for Apple to raise their bounties to compete with the grey market?