Ultimately, Captchas are useless for spam because they're designed to tell you if someone is 'human' or not, but not whether something is spam or not.
The promise of the early web was that everyone could have a website but there was something missing. Maybe the technology wasn't ready.
Just because someone uses Twitter doesn't mean they shouldn't use WordPress, and vice versa.
If you want to be good at something, you really have to work at it every single day. You have to work hard at the things that are hard. Otherwise you are just treading water.
It turns out that social networks drive a heck of a lot of traffic to blogs.
I don't think BuddyPress will be something you use instead of your existing social networks... but if you wanted to start something new maybe with more control, friendlier terms of service, or just something customized and tweaked to fit exactly into your existing site, then BuddyPress is a great framework to use.