I couldn't agree more and I have definitely seen @everittdmickey discuss this before on some similar posts, I believe the problem with implementing this on the blockchain is that Captcha requires a "Centralized Validation", I believe Dan commented about it Here, this problem means that the system would no longer be "Decentralized" as all upvotes and such would have to go through a central system for verification and hence would defeat the purpose of the blockchain.
RE: <-- Could this kill Steemit bots?