My brother and I both took one. He's at Goldman Sachs, and I work for a company that builds medical software. I finished my course 3.5 years ago and 75% of my class are still working as developers. Major employers include Google, Conde Nast, JPM, GS. Most people work for mid/small size companies so they could get better mentorship than the corporate life.

I think one major issue people like you have is that they don't realize that most people who take these courses aren't baristas. My class average was late 20s with 5+ years of proven work experience, most frequently in high professions (law, medicine, finance). I worked in finance for 6 years. I didn't need to take "CS250" to be capable of learning data structures. I just did it on the job instead of over one semester. It's easy to train people who have a proven history of success at work. It is much harder to gamble on a 22 year old with no work experience, regardless of their degree. That's a pretty easy decision for many hiring managers.