Like protecting your business with an industrial grade door locks on a building made of hay. Just a whole lot of cheating going on over there, ouch.
edit: I don't know if this came up before, but based on how they stupidly tried to cache the login session tokens with md5, instead of running through the 12 work factor bcrypt, I can assume that they saw this as a bottleneck.
Instead of dropping the work factor or doing this caching baloney, could a service be made that runs on extravagantly fast hardware, which provides an API for strong, high work factor bcrypt, pbkdf2 based authentication.
I can assume that at around 10 rounds, each attempt takes about 50 - 100 millis
Thoughts ?