I seem to remember another steelhead thread that went this way pinners Vs the "other" methods for catching steelhead.
Bottom bouncing if done correctly is a very effective way of catching steelhead and is most definitely not flossing. I have seen people do this on the Saugeen, Maitland, Bayfield, nine-mile to name but a few rivers. I personally have found that still fishing for steelhead is a good way of doing it, but often results on you sitting on your hands for a while as you cannot possibly cover the same amount of water that you would with a float.