The problem is that the theoretical spammer isn't bound to the IP that gets blocked, Microsoft randomly uses most of them, even if you block one IP, the next email will go through the next one etc. and when that one gets blocked the 1st one might be unblocked already. For a spammer that just sends out stuff non stop and doesn't care that much if it arrives the 1st time this isn't that big of an issue. For a normal user unfortunately it is, not just the one sending but the receiver waiting for a legitimate email as well.
I agree that this is Microsoft's fault but there has to be a saner way to deal with it. Unfortunately the issue is persisting, today I had another user complain about this.
And the spamcop captcha is still broken...