I agree here.
One thing I like doing with a bounty, though, is finding a good sniper point, and snipe bounty hunters unexpectedly. For some reason, most players just come straight at you with no plan, just blindly firing and hoping to kill you, so it works quite well, so long as you can aim with your sniper.
But that is where the bad sport system can really ruin your fun. It would be awesome to setup ambushes in choke points and to actually take advantage of your surroundings, but you're severely limited as to not blow up their vehicle.
It's still fun anyways. It would be awesome if GTA5 had more interior buildings, as that would make defending yourself from bounties that much more fun.