My experience varies. Of the (admittedly few) people I can think of that I knew personally and who were trained-on-the-job during this time none are still developing software (though one works in QA and one is a project manager of a tech company last I heard).
> I would argue bootcamps are a step towards understanding the true needs on a global scale
Yeah, I buy that there's non-zero insight to be gleaned from some experience running these code camps for the industry at large. But we'll be doing that on the backs of people who guinea pig these programs in the short term with misaligned expectations, and relatively short term desires for new employment.
You're selling people something they can "sell" to others (marketable skills). The people being expected to evaluate (and then pony up for) the value proposition here are by definition uniquely unqualified to do so.
That's why it feels like a scam. If Facebook decided they wanted to run people through these programs for free because they thought it might have some value and solve a real need for talent that they have, I wouldn't be complaining.
As a matter of fact, it's telling that they aren't.