Out of curiosity googled for Sentinel (which was one of the other dongles back then), seems somebody is now providing a bypass/emulation service: https://sentineldongle.com/ (not affiliated with this, just googled Sentinel like 5 minutes ago and this showed up).

Tell that to the crackers who worked for over a year to simulate a social network in order to finally crack the game Red Dead Redemption 2, which had a very custom game protection implemented by Rockstar. Also to this day there is no crack to Diablo 3, famous for being single player but with online verification. You can create very hard to crack protections quite easy if you employ self-modifying code techniques. Do you have any idea how hard is to debug code that overwrites itself in memory and that cannot be patched by modifying the existing code from disk? The reason why this is not more common is because the more iterations you do, the harder is to create those iterations, which means you add a lot of time to create the protection which means that you need to have a finished code, and code is always modified by production team, so managers see this overtime unnecessary.