I'm still fairly new to learning Marketo so hopefully someone can help me out... What does it mean when you see the "blocked" numbers? Is Marketo blocking them because of hard bounces or are they blocking us?
You mean on the schedule tab of a smart campaign? That is the number of leads that qualify for your smart campaign according to your filters, but cannot receive emails for whatever reason. (They could have unsubscribed, their email could be invalid, etc. You'd have to look at the individual lead records to see the details.) See View Blocked Leads in a Smart Campaign - Marketo Docs - Product Docs