Your conclusion is correct as long as you are talking about Bot Fight Mode (free) and not Super Bot Fight Mode (Pro or higher). Super Bot Fight Mode can be skipped with Custom Rules, a feature which was reported to eventually be making its way to free users: Super Bot Fight Mode is now configurable! (in the last paragraph).
Hm dang, that’s what I was afraid of. I enabled it to block user signup spam, though I also have a custom role targeting the register page now that will hopefully get most of them. I guess I’ll just leave it off for now.