Here's my thoughts on it. the Bulldogator seems really unnecessary unless it gets an explanation given. For instance, the glow in the dark kenner predators from Neca got an interesting backstory basically stating that they were some of the original yautja on a remote part of yautja prime that was really dark and they adapted some evolutionary bio-luminescence to be able to see each other in this dark climate. The reason they glow is the adaptation of the skin which is translucent basically allowing their blood to flow through.
Why is that cool? it gives a cool reason for why the Predator's blood glows, and it furthers the tiny bits of lore we know of the yautja. If they do something to explain the bulldogator like that, I can accept it. As it stands though, based on the packaging, I'm disappointed they dropped a variant predator in with no explanation at all.