But more populated areas will mean larger talent pools. Unless you're in a tech hub or a fast growing mid-size city, the amount of software jobs might not serve the pool. Credentials will matter more. Practically speaking :)
In my case, my employer happened to hire people from my particular bootcamp, and had good experiences with those hires. Coming from that bootcamp is what got me in the door, no amount of "projects" would have done the trick. It's very hard to say "I'm legitimate, see all these projects I've done", because unless you can have a very clear timeline of "I did this project two years ago, and I've been diligently learning ever since as noted by this, this, and this project", it's just another person with another github with another project. Absolutely zero reason to bring that person in when you have other applicants with actual backgrounds + a project or two.
All this is to say, I don't think this advice applies nearly as much as people believe it does anymore.
It's like they know how to use a hammer and a screwdriver, but they don't know why you would use a nail instead of a screw (or which thread pitch why) instead of a bolt instead of a jointery technique.
Maybe it is just that our company has a bunch of old timer generalists that aren't very good at interviewing someone with a narrow skillset? I know we try to, but it feels like the bootcamp people we've interviewed didn't have very good problem solving skills. We've successfully hired more junior people, but not from bootcamps.
What are we doing wrong?
In a company of generalists, this is very likely how you operate, and you'll see little value in bootcamp folks.
As a generalist, I tend to be in that camp - seeing little value in bootcamp folks. Or, I should be more precise - the way I operate I don't see that I could get much value from bootcamp folks (I'm either independent, or work with other generalists). I'm not set up to be able to get much value from narrow-skill bootcamp folks early on.
Their value will be for shops that have teams of people where dropping in one more pair of hands has some incremental value. From there they will get more experience and can learn to be of more value in more situations.
That's just been my own observations talking with some folks about their 'going through a bootcamp' experience over the last couple of years.