Yes, most bots will decode this easily. Some bots also decode various JavaScript based obfuscations and email addresses in images. But in contrast to those, this little obfuscator doesn't harm the usability (you can copy and paste it, screen reader compatible etc.).

For the last 10+ years I personally have not tried any more to hide my email address on the web. It's visible in thousands of places (mailing list archives, websites, git commits) and the volume of spam is absolutely manageable (~100 a day, 99+% filter rate with spamassassin and blocking some networks).