While this might catch some folks, many phishing/scam sites can route their requests through residential proxy networks. There are plenty of legitimate networks

While this might catch some folks, many phishing/scam sites can route their requests through residential proxy networks. There are plenty of legitimate networks (e.g. ones that use free VPN offerings as a way to route traffic through your IP) with minimal KYC, and even more illegitimate ones based on botnets. This seems like a lot of engineering for a mitigation that’s easily worked around.