The good thing about DBC is its intensity. We're asked to work upwards of 100 hours a week.* I'm dubious as to exactly where that number comes from and how accurate it is, however it is clear that students work long hours and almost always stay late. I'm told at least a few drop out each term. At least to me, this indicates that the students who complete the program are motivated.
I think the problem is when applicants rely entirely on a three month program to get work. I'm attending DBC not so I can put it on my CV and hop straight into a startup job, but because I genuinely want to add Ruby to my toolbox.
IMO bootcamps shouldn't be taken just to have another line on a resume. They should be a stepping stone, giving the student the tools to contribute to real projects that will give them real experience. I think these contributions that the bootcamp experience allows are where the real value comes from. I apologize if I've been rambling, my point is that bootcamps work best as a part of a bigger and longer story that shows a dedication to the craft of programming.
*Someone mentioned this isn't the case. I'll see if I can dig up where I read this.