I agree with you, but hackers sell exploits to others all the time? One can never be sure that hackers gonna send the actual exploit. You're right the scheme does not protect from that, my initial shower thought was more about the "release to the public" part, so the public can be certain about they will get something when the amount on the crypto wallet hits the threshold.
So, whether a blockchain is used or not, there's no way to know that I'll get what I paid for or an empty text file.
So the blockchain serves no purpose in this instance.
Asking people to send you money, and them trusting you'll send them the exploit is exactly the same and no blockchain is needed (except maybe the bitcoin one, since of course you don't want to use paypal)
Assuming you can establish a zero trust, publicly declared swap of crypto for said key... A smart contract could be established to act like a bounty program for this purpose and could be re-used for sharing other secrets.