Not just tracking cookies, but browser fingerprinting.
Not just Google, but now Cloudflare.
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I can personally confirm it very much did help curb botting issues on my website.
Seconded, websites with logins are practically unusable without the tool. We had to disable it once and our database got flooded by unverified accounts. Absolutely awful.
I have edited my original comment, but this will explain it much better and showcase my statement much better: https://youtu.be/VTsBP21-XpI?si=viw0FEMffyhyba9v