Someone who finished a bootcamp might be able to write a simple program in Python, but that doesn't make them a software engineer.
I've said this out loud before and have gotten told I'm an elitist, that my degree doesn't make me better at software than those without one. That majoring in computer science teaches you only esoteric knowledge that can't be applied in a "real job".
On the other hand, the industry being less strict about degrees can be considered a positive. There definitely do exist extremely talented self-taught software engineers that have made a great career for themselves.
But I definitely agree with the need of some sort of standard. I don't care if some bootcamper gets a job at the latest "AI on the blockchain as a service" unicorn startup, good for them. I'd rather have people with formal degrees work on something like a Therac-25, though.