There's a few ways of looking at it, in my opinion. On one hand, as UVMHC alluded to, when you're a school like Bryant that is still trying to establish its brand (both as a basketball program and a university...they don't have the benefit of having a location built into their name that people can use as an opening when trying to figure out who you are), getting your name out with as much frequency as possible and getting on as many radars as you can has value. A few more trips to the NCAAs and they probably won't feel compelled to do this as much.
And there's a "shoot your shot" component to this to, especially when talking about sophomore/junior classes. Many of the guys they've offered are, bluntly, out of their league right now (and out of the league of any AE school...and in some cases, any one-bid school). But you throw your hat in the ring, something happens down the road to a guy (injuries, developmental plateau), and bam...he falls into your lap because you were there for the start. And now you've got a guy you probably never thought you'd get and is a great fit for this level.
Conversely, I do think offering 100+ guys in a class says a few negative things. Like, how focused are you on any of them? How serious are you about actually recruiting these guys? If anyone who dribbles gets an offer, what is it "worth?" I never had the privilege of being a recruited athlete, but to some degree I think I'd want to feel like they think I'm special. They offered me because they want me, not because I'm on a list of 100 guys and I'm "next." Even if that is actually how recruiting works sometimes, as a recruit I don't want to feel that.
All that said, what Bryant is doing seems to be working for Bryant. Further proof there's no one singular "right way."