Thank you for your answer!
Yes, that is exactly the case.
We have been testing this and it seems that "Googlebot" doesn't hit the wall at all with the normal settings on. With these results it seems that we don't need to treat "Googlebot" differently because it doesn't seem to store any cookie or local storage data.
Tech savvy users can bypass the pay wall by other means as well so that's not a big concern for us.