I don't understand the question.
I run a large regional forum (10-15k active users per day) and our business model (such as it is) does not rely upon having as many randoms as possible getting user accounts.
We are quite selective when it comes to approving new memberships. We look at numerous subtle signals to decide whether to allow an account to be approved instantly, approved with limits, delayed or rejected. Email, ASN, browser behaviour, user's actions prior to the registration page, and numerous other things which strongly predict whether someone is an authentic new contributor, or a sock puppet/astro-turfer/troll/spammer/abuser etc.
This saves us an astronomical amount of pointless work for our moderators and makes our environment more conducive to constructive and useful contributions. (In a way it's like Hacker News comments except we're not as pedantic about chatty contributions so long as they're good natured.)