Baiting more reliably brings in more species for closer encounters. Some sharks don't seem to come in unless they've been fed, either on the current dive or others. This is a good thing. I think one of the concerns with shark feeding out of Jupiter was that tiger sharks might start approaching random divers and swimmers hoping for handouts (and maybe on occasion take a test bite in the absence of their usual treats) - thankfully I've not heard of that becoming a problem.
I don't know how well which sounds work on which species, but it's something to be careful of. A few years back I wanted a video from a deep dive at some overseas location where a guy tried the bottle trick, and things got wild. It may've been this one,
Shark Attack at 57 meters in Papua New Guinea (if you're impatient, drag the slider to 1:15 and the action starts seconds afterward).
Unless I were with at least one buddy I trusted to watch my blind spots, I'd be leery of trying that stunt (but, much like with feeding dives, I'd be game to watch someone else do it).
Now if you're talking about using a pole to loudly poke a rock so area sharks will think a speargun went off, that might be conditional on what the area sharks have grown accustomed to (e.g.: is there much spear fishing?).