>CAPTCHAs don't work anymore, at this point. AI can trivially solve them.

The point is to raise the cost, not to create some impenetrable barrier. A $5 vps can make hundreds of requests per second. IP bans and rate limiting forces people to use residential proxies, which are like $5/GB. That's much more expensive, but still cheap. Not sure about the token cost of AI is like, but captcha solving service used to charge around $0.002 per solve, which increases costs even more.