We operate a forum with 250k members and ~800k posts per month, a new registration every minute and we get so many spam bots even with captcha (mechanical turk etc) and without captcha it's unworkable. Captcha is a necessary evil, but it does help.
This seems to be coming from someone dealing with a site where spam wouldn't be that much of a problem, who would sign up to animoto to spam? Very silly post.