The problem with the "salary bump" is that it is usually a "salary leveling". You were slightly underpaid because you're at a startup so the bump is to a market

The problem with the "salary bump" is that it is usually a "salary leveling". You were slightly underpaid because you're at a startup so the bump is to a market rate. Or, even if you were at a market rate, you may have been with the startup long enough that you could get that bump just by leaving. So in the end they're not offering you anything you couldn't get by going to many other employers. So it's not bad per say, but it's not valuable at all. Even though it's being sold to you as such.