There was a discussion about this on the old Wrestling Report forum years ago when they first doubled the bonus points. A 5th-place finisher could score more points than a champion (I think we were talking about EIWAs specifically, when a champ earned just 12 placement points). Most agreed that there was too much emphasis on bonus points.
Examples this year -- at EIWAs Ryan Crookham won and earned 20.5 points; had 1.5 bonus points. Kelvin Griffin finished 3rd and also earned 20.5 points; he had bonus points in all five of his wins, 8.0 points total.
An NCAA champ earns a minimum of 20 points -- 16 placement, 4 advancement. Vito Arujau won and earned 24.0 points (4 MDs). Meyer Shapiro finished 3rd and earned 21.0 points (10 placement, 3.5 advancement, 7.5 bonus), so he earned a champion's points in finishing 3rd.
There's no right or wrong here; it all depends on what you want to reward. If bonus points are reduced, we'll see less aggressive wrestling.