It is BS. But perhaps not the way you think.
It has been shown that for the locals to take an active roll in protecting the species in their area, you must give them a reason to. When you're living in a dirt hut and still scratching out an existence like your people has for 100 years, alturism isn't enough. It has been shown that trophy hunting brings in money to both the local populace and to the parks themselves. Money that pays for equipment and weapons so the rangers can fight back against the poachers who are the real danger to the animals.
In the last 50 years, many species have begun to come back from the edge. And this is in no small part due to money from hunters.
From a 1999 BBC article:
Shoot an Elephant, save a speciesFrom
African Wildlife Photography, another British site:
Hunting is often regarded as being cruel but hunting is allowed in many western countries. Controlled hunting has a huge financial benefit to wildlife conservation. Hunting is a very expensive sport costing over $10,000 per individual. Compare this to the average cost of a safari at $3000. The presence of hunters also keeps poachers away. Poaching is much crueller than hunting. Animals are caught in snares that pull tight when the animal tries to escape the result of which is a slow and agonising death.
From ESPN Outdoors
Tourism is a $25 million-a-year business in Zimbabwe. The eco-tourists may outnumber the hunters, but the hunters outspend them, $15 million to $10 million. When eco-tourists come in, they whisk around in a jeep for a couple days, wine and dine, and leave. Hunters stay longer, pay trophy fees and guides, and the meat from animals killed goes to local villages, along with skins and bones that can be used for clothing and arts and crafts.
Throughout Africa, as what happened in N. America, animals are losing their native habitat. But, in N. America we've seen how sustainable hunting can not only pay for itself, but contribute mightily to increasing both habitat and animal numbers:

Through over 10,000 clubs and organizations such as NRA, Ducks Unlimited, Safari Club International, National Wild Turkey Federation, Rocky Mountain Elk Foundation and Quail Unlimited, sportsmen contribute an additional $300 million each year to wildlife conservation activities.
Hunters and fishermen fund nearly 75% of the annual income for all 50 state conservation agencies. More than $20 billion have been contributed by hunters and fishermen for wildlife conservation.
By giving these nations a reason to manage their parks and protect their animals, we can keep them from being lost forever.