A lot of the crap real sites make people go through e.g. when they lose access to their account or login to a VPN or the site just "can't verify their identity" for some reason. Where you go through a bunch of hoops and captchas, only to have some step fail or reach a dead end. They really seem like they're just set up to intentionally waste people's time.
For example, Steam has a system where if you enter too many invalid passwords, it will present you with a captcha which you can never actually solve. It's a lot more annoying than just saying "you have been locked out of trying to log in for X hours".
But this, this is fine. It's pretty clear that the person you're targeting is a spammer, and it's pretty clear to the user after about 60 seconds that you're password system is a joke.