That’s just for a bug you find in iCloud. Apple is offering a bigger bounty for finding bugs. Shelby Brown explains:
Apple is opening its bug bounty program to the latest publicly available versions of iOS, iPadOS, macOS, tvOS and watchOS. Researchers who find and clearly report issues to Apple Product Security will get a large payout, depending on the bug discovered… The maximum payouts range from $100,000 to $1 million.
Those must be big bugs.