Yes it didnt stop the bots, but the reason was because modern WoW players dont care about paying the sub fee like they did 15 years ago, while having a ton more disposable income to buy tokens with cash instead of with gold. IIRC it took less than a day for the gold price of wrath tokens to drop from 10k to 6k because there was far more supply than demand.
In order for tokens to work at competing with bots, you need players to want to buy them with gold to save $ … but that just isnt the case like it used to be.