The success of any bug bounty program is determined by the pre-launch planning and logistics, which include determining business objectives, setting testing scope, setting initial reward ranges, and aligning internal resources. Effective planning and execution are crucial to attracting the right talent and attention to the program, as well as ensuring that internal resources are ready to implement and run the program. The bug bounty lifecycle is a fluid process that involves strategic planning, program launch, and learning from and iterating the program to achieve long-term success.