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I don't think the author understands the point of Anubis. The point isn't to block bots completely from your site, bots can still get in. The point is to put up a problem at the door to the site. This problem, as the author states, is relatively trivial for the average device to solve, it's meant to be solved by a phone or any consumer device.
The actual protection mechanism is scale, the scale of this solving solution is costly. Bot farms aren't one single host or machine, they're thousands, tens of thousands of VMs running in clusters constantly trying to scrape sites. So to them, a calculating something that trivial is simple once, very very costly at scale. Say calculating the hash once takes about 5 seconds. Easy for a phone. Let's say that's 1000 scrapes of your site, that's now 5000 seconds to scrape, roughly an hour and a half. Now we're talking about real dollars and cents lost. Scraping does have a cost, and having worked at a company that does professionally scrape content they know this. Most companies will back off after trying to load a page that takes too long, or is too intensive - and that is why we see the dropoff in bot attacks. It's that it's not worth it for them to scrape the site anymore.
So for Anubis they're "judging your value" by saying "Are you willing to put your money where your mouth is to access this site?" For consumer it's a fraction of a fraction of a penny in electricity spent for that one page load, barely noticeable. For large bot farms it's real dollars wasted on my little lemmy instance/blog, and thankfully they've stopped caring.