They've been doing this for a while. With recaptcha, you got easier captchas (a single street number instead of two words) if the system thought you were human. There was an official post about this a year ago. [1] Now they have probably improved the system enough to be confident in not showing captcha at all. It's nothing revolutionary. If it thinks you're a robot, you still get the old captcha. [2]
[1] http://googleonlinesecurity.blogspot.com/2013/10/recaptcha-j...
[2] http://i.imgur.com/pCKS8p5.png
I've noticed that I get the house numbers when I leave 3rd party cookies enabled, and a much harder, often impossible captcha when they're disabled. Since leaving them off doesn't break much else, I do, and just fill out the harder captchas when I come across one. By the way, you only have to fill out the "known" word, the one that's all twisted and usually impossible to read until you refresh the image 10 times. Even completely omitting the 2nd word, which is the unknown word that OCR couldn't figure out, it will still validate.
Am I being paranoid when I think that offering this "free" service is a great way to track people over even more sites and usually the most important conversion pages that don't have the usual google display ads. I don't see a big technological innovation here as it appears that mostly they are checking your cookies to see if they recognize you.
And there are a number of sites using Analytics, Adwords/Adsense, DFP and a number of other points of connection. They've already offered/bought recaptcha, all this does is make it easier for most people (who have cookies and JS enabled).