Bait store worms (except for the ones like Canadian Nightcrawlers that must be refrigerated) would work just fine in a worm bin.
The difference is the price. Bait stores sell by the piece and are much more expensive than if you were to buy them by the pound.

My bait store sells a small styro container of red worms, and they are not expensive (less than $4 last time). Not sure how many worms are in there. A person could start a bin with a couple of those containers.

Most bait-producing worm growers feed them an almost exclusive diet of laying mash to fatten them up. That's probably OK for a worm facing a short life-span with a hook in its near future.

Composting worms have been shown to have long life-spans (four years proven) if the McDonald's life-style diet (meat, fat, salt) isn't provided for them.

Oh, I know....there are other reasons to avoid meat and fat (slow decomp, odors, critters), but the salt has to have a detrimental effect on those five hearts.

Chuckiebtoo

ahhh I can picture it now. An earthworm with Michael Moores' face on it.