HIPOWER...
"Your thoughts?"
My thoughts are that the wise person always prepares. Just how much you prepare depends upon what you think is likely to happen.
Buying in bulk is a good idea for several reasons. Economically you generally get a better deal. In the case (pun not intended) of ammunition, IF you know that your firearm tends to like that brand and shoot well, it makes sense to get it in bulk so that you have a supply of something you know and trust.
I think that a person is smart to stock up on money, food, water, ammunition, and other essentials to prepare. Not that I think that Armegeddon is around the corner, but to be prepared for other, more common situations. Localized natural disasters, lean economic times, loss of job(s). Those sorts of things.
How much you stock up on is a very subjective issue. Economic advisors generally recommend a six months supply of money in an easily accessable form to prepare for job loss or other financial hardship. Drawing from that I feel that a 6-12 month supply of consummables may be a good target for someone who wants to be prepared. However it may be difficult to get a 6-12 month supply of everything without a difficult financial investment. For example, how would you store 6-12 months of gasoline? And if you live in an apartment in NYC, you may have limited storage space for other things.
Does your lifestyle allow you to live in a place where you can store this much material? Can you pay for it? Can you effectively manage it?
I may be straying too far from your original question however. But the same thoughts still apply. If you think you can afford it, and will use it, not just sit on it waiting for doomsday, it may be a good option to consider.
Take notes. There may be a test in the future.