Of course it does. Luffy's bounty has yet to reach the potential characters like Akainu and Mihawk has seen seen him. By your own logic, Robin should have the highest bounty. The fact that she doesn't shows your logic doesn't apply to the manga.
Nope. It's not a coincidence that the characters that put the most stock in bounties are also extremely arrogant. Perospero brought up bounties and what happened to him? He was caught off guard by Pedro's bomb because his arrogance got the better of him and left him open. Bellamy's crew laughed at Luffy because of his bounty and ended up embarrassed. Oda has shown time and time again that putting this much stock into bounties is something a fool does. Look at Jack, when Sheepshead gloated about Jack's bounty, Jack called him an idiot, yet you people flip your shit when someone's bounty doesn't seem that high.
This "Threat caps with danger and then falls on strength" shit is nonsense you made up, and the manga has never given such indication. It was even outright stated by Shakky that Kid's bounty skyrockted due to him slaughtering innocent people. It's high time we stopped this nonsense as a fandom.