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Automated attacks, running on botnets or other breached servers.

Spraying 1-in-100000 chance attacks is very economical if you don't pay for compute or traffic.

It's economical because the compute and bandwidth come from devices infected with malware.

Put a challenge in. A shitty hidden field honeytrap challenge can massively reduce this without needing to present people with a puzzle.

They are automated bots, it's economical when it's automated.

Often, they have databases of technologies, see what they come across and try a bunch of things that have worked, or try to look at the version of the software on your server and try just that.