That's not a bristleworm, that's a eunicid worm. Not harmless- many varieties eat fish. Though I've heard of even those big ones going undetected for years and actually not doing much damage, depending on species. There are actually plenty of tiny, harmless eunicids, too, not just the big scary ones.
Frankly, though? That thing's really cool. I would actually like to keep one of those in a tank, if I'd ever see it. Look at its whiskers! And it moves in a really fascinating way. If I had the opportunity to set up a spare tank, and someone offered me a big eunicid worm, I would absolutely take that opportunity. 10gal or so, teach it to come out and take food from your tongs so you can see it, pop in some nice fast-growing corals so it doesn't do any real damage if it chows on something. Pest tank with the ultimate terrifying pest! It's not like it'll come out of the tank and hurt you or anything.