CAPTCHA: Bot vs. Human. Bot wins.
https://arxiv.org/pdf/2307.12108.pdf
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it's another way to violate your privacy.
It's probably both if we're being honest. A lot of services definitely don't want bots. But they also want to take as much of your personal info as possible.
I'm of the belief that Google themselves runs (or more likely subcontracts) many of the bots that target websites not running captcha.
They don't want bots because they can't steal Personal Info from a bot