The boot camp grads often don't understand a lot of fundamental computer science, but the kind of programming work they are hired to do does not require an understanding of fundamental computer science, so lack of understanding is not a drawback. If you just need someone to churn out web apps, a boot camp grad can do that.
It's also often the case that self-taught programmers tend to write hacky, tightly coupled, non-modular code, don't like writing tests, don't know about CI or version control, don't work well on teams, etc. At good boot camps, the students learn to do those things, and work on projects that are similar to the ones they will work on if they find jobs in industry. So, some people consider boot camp grads superior to self-taught candidates.
However, all of the people I know who hire boot camp grads have a short list of boot camps they consider to be of good quality.