On a somewhat related note: I used to write sneaker buying bots and captcha was one of the best things to happen to the bot industry.
Captcha was easily "bypassed" by services that had humans sitting at computers generating tokens. Recaptcha tokens are valid for two minutes by default, so you'd be able to generate tokens up to two minutes in advance and have dozens of tokens available when the product in question became available for purchase. Real buyers had to wait for drop and then spend 15s+ filling out the captcha. Bots would take most of the stock in less than a second. I always felt like this was a fantastic example of a bot prevention mechanism that actually actively harmed "legitimate" users.