Not sure I'd call dumping externalities on a minority of your customer base without recourse "capitalism working as intended".
Capitalism is a means to an end, and allowable business practices are a two-way street between corporations and consumers, mediated by regulatory bodies and consumer protection agencies, at least in most functioning democracies.
Maybe, but it doesn't change the fact, that no one is going to forbid me to ban IPs. Therefore I will ban IPs and IPs ranges because it is the cheapest solution.
Capitalism is a means to an end, and allowable business practices are a two-way street between corporations and consumers, mediated by regulatory bodies and consumer protection agencies, at least in most functioning democracies.