Very true that solely chasing /32 IP is a waste of energy.
That's why it need to be done using visitors patterns, origins, user agents, referrers, type of requests and rates of it.
Right now we have a script that read the logs in real-time and take action when a visitor match specific rules.
Still, this doesn't fix the current LiteSpeed dev team approach of pushing out an undocumented half-baked feature that can block visitors and none have anything to say about it.