Probably. There's a couple of different things going on I think. One is I used something to log incoming requests and I think a lot of the load is due to search engines.
I watched the top IP addresses making requests to the forum for a while and a number of the top IPs belong to search engines I've never heard of nor care about. Yandex or Omgili or ahrefs.
I added a few of those to the robots.txt to hopefully stop them from indexing the site, search engine bots have a different pattern of usage, they dig up really old threads and stuff, so it really impacts the site much more than a typical user who usually stays in the current threads.
I also noticed a lot of activity from a couple of Netdna IP addresses, but the user agents showed regular stuff like Firefox or an iPad or whatever, and the IP addresses correlated to a number of actual users, so I wonder if it's some kind of proxy or anonymizer. Users using proxies to register is kind of suspicious and I usually deny the registration but this one is big enough with enough "legit" users I wonder if I should talk to a few of the users to find out what's going on there. I don't want to block something that's legit traffic use.
Anyway, blocked a few of the current top offending search engines so hopefully that'll improve over time, and I've seen a few lists for common search engines to block so I might expand that list at the web server level.
EDIT: Bing is pretty aggressive too
The second thing that seems to happen is every so often, on no schedule I can figure out, all the web server processes just go away... or rather the master process just stops making new ones. So things'll not respond for a while, 15-30 seconds, then it'll start again and of course there's a mini-rush which makes things slower as well, then it's all fine again. Have never been able to figure out what causes it.
EDIT: I blocked Yandex and ahrefs bots at the web server level and already am seeing a pretty decent decrease in incoming bot requests.