Is PoW captcha better than regular captcha?

Question

CAPTCHA

Good afternoon. Recently found a project https://github.com/FriendlyCaptcha . Its developers offer a site protection solution based on the Proof Of Work concept. The user's browser, at the time of entering the form or with a direct request, performs a calculation on WebAssembly or JS, which takes some time comparable to solving a regular captcha. Depending on the browser version and CPU capabilities, the speed of the solution will be different. The resulting solution is transmitted to the server, where it can be quickly and accurately checked.

There are clear advantages: confidentiality, speed of verification, and even efficiency.
What do you think, can such a captcha actually protect the site? Or will bot growers on their powerful servers still spam effectively?