No, the bounty system is not broken. It is actually perfect.
Keep playing you will (probably) figure it out
I could explain it all in detail, but after one too many times of me taking my time to help someone I dont recognize and then not reading/seeing/getting one iota of appreciation... why would I? It seems more fun to spend the time b****ing about not getting appreciation after helping ungrateful people.
Besides...pretzels make me thirsty. 8)
FO3&NV, "War, war never changes." FO4, "Side Quests, Side Quests never changes."