Obviously not all CS grads are clueless, but unless they spend some time independently learning something beyond the college curriculum, they're often worthless when they start their first job. A bootcamp person (I've hired from General Assembly in NYC,) can generally build a complete CRUD app without much help, including deploying it to AWS or Heroku, using SCM correctly and ensuring it's covered with tests.

Of course, everyone's business has different needs. If I were working with SPARK or Ada on ultra-critical systems, at the entry level, I'd definitely prefer the CS grad, but for general web applications, the bootcamp grad often hits the ground running.