There had been ban waves in the past. PPL using bots(on general) had been baned.
Given that, BLZ haven't had a ban waves for a long time now, and given what happened before, it seems like BLZ only do a ban waves when they feel necessary.
The first ban wave was to remove the massive bots which use shaman to get to legendary. It's intolerable to have the ladder like that -- rank 1-5 was filled with easy to spot bots. Now if BLZ believe that doing a ban wave will get them more profit, or make the game better, they'll do it. But at the current time it doesn't seem like so.
And that's why I'm not a big fan of the "project rank 5" or "project legendary". The more ppl achieve that with the bot, the higher the likely hood we get banned. So those who use the bot to climb the ladder is literally taking advantage of those who only bot for gold/quest. Basically, the ladder botters share their risk with the gold botters.