I agree. CAPTCHA is proving nothing in this scenario and really doesn’t make any sense nor offer any more protection.
I don’t want to stir the pot, but if it is protection you were looking for – do what banks do:
1. Allow users to set up a graphic and tagline (this ensures that when they login, they are not actually logging into a fraud site… does this by giving you that image and tagline as a familiarity factor)
2. Give the user a set of 5 questions that they have answers to. Then randomly ask the questions prior to submittal of the actual password.
That’s it, really. However, you are not a bank 
You don’t need this level of protection – so please remove!!
I use Statsremote as well and do not promote any program that I cannot track through it.