I just couldn't endure the attempts to turn programming into the new accounting. So, this summer, I switched from a developer to a security admin.
I can't imagine that adding thousands of new, minimally skilled programmers to the labor pool is going to do anything but make the situation worse.
Don't get me wrong, I think that programming being more accessible to anyone who is interested is a good thing. I am just concerned that we're going to have a bunch of people who want to get into it because they think it's the next hot thing. Like "Web Development" was 16-20 years ago.
c.f. http://blog.cleancoder.com/uncle-bob/2014/06/20/MyLawn.html
I don't know that STEM people are going to code schools; I think they probably just google the manual, read a few tutorials and have at it.
edit: ...along with spending months doing homework on algorithms and big/little-* notation, and learning automata theory, of course. I don't mean to oversimplify.
mgridley is right in that the vast majority of business applications require almost no math, and those that do are usually so specialized that an advisor figures out those equations first as they require a specialized domain knowledge.
Want to build tools that developers build upon? You may need the math, but you can usually already find the algorithms in research papers.
The only exception to this rule (that I can think of) are very specialized niches of development, which ultimately become commoditized and consumed by developers without the math anyways.
That's how pervasive it's becoming. If there's any sort of contraction in the industry, the situation will be bad.
My concern is that, as far as I can tell, almost all bootcamp-trained coders are going to VC-funded startups, many of which are fairly early stage. Those jobs could all disappear overnight, so to speak, if a bunch of VCs decided they wanted to invest their money in something other than technology.