CAPTCHAs are 'a tracking cookie farm for profit that made us spend 819 billion hours clicking to generate nearly $1 trillion for Google

The announcement blog post linked on the bottom of the linked Turnstile page has some info on that

For Turnstile, the actual act of checking a box isn’t important, it’s the background data we’re analyzing while the box is checked that matters. We find and stop bots by running a series of in-browser tests, checking browser characteristics, native browser APIs, and asking the browser to pass lightweight tests (ex: proof-of-work tests, proof-of-space tests) to prove that it’s an actual browser. The current deployment of Turnstile checks billions of visitors every day, and we are able to identify browser abnormalities that bots exhibit while attempting to pass those tests.