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Depending on what sort of books they are and how much free time the person has, they may indeed be able to read 10 books in 2-3 weeks. (Someone who works 40+ hours a week reading books like War and peace? no. Retiree reading cozy mysteries? yes.)
My library allows only 6 holds and 5 checkouts so I've never been too concerned that people were abusing auto-checkout. And really, if it's so important to me to have a specific book that I just can't wait another 2-3 weeks then I would buy the book.
Back in the day before I had a smartphone I used autocheckout once or twice when I knew a held book was likely to come in while I would be out of town for a few days. I didn't have wifi access where I was staying so I couldn't use my ereader to get the book directly. And yes, I did read the book when I got home.
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