Yes, you could have a bot that checked the top 50 passwords against a few thousand or so accounts- but even then, you'd only get one or two matches at most.
What if sites blocked passwords that have been used more than twice already? So, at most, there would be two "123456" passwords- any secure password is more than likely something that no more than one other person on any given site would be using.
[Edited: Whoops, did the math too quickly]