Sure, it's unlikely, but I don't see what I'd be gaining using fail2ban in the first place. I don't leave password authentication enabled, of course.
Log spam is a bit annoying, but at the end of the day, who cares? Even with the ongoing attempts, my authlog is like 300K uncompressed today and 60-120K per day gzipped. Whatever.
If I cared about that I would prefer to just block Chinese IP ranges outright.