That is yet one more excellent reason to travel carryon-only: unpredictable economic benefits.
I'd consider it a risk! I've been offered incentives to bump but I've never accepted them, I want to get to my destination not have to wait another day and spend the time in a souless airport hotel. So for me, having checked luggage is a benefit if it lowers the chances of me being selected for a bump request.
The only time I've accepted an offer and it wasn't a "bump" as such was when my return flight was cancelled from Milan. I was in Rome to watch the Rugby and it was significantly cheaper to fly to Milan and take the train to Rome than it was to fly direct. We were notified of the cancellation at 11 pm the night before we were due to depart and were automatically placed on the early flight from Milan however there was no way that we would be able to make it back to Milan in time. As a result, after contacting the airline, we were booked on a flight from Rome two days later and resultant hotel costs, meals and wine were covered by British Airways. I was quite happy to spend another two days in Rome at BA's expense.