Unless we are very close to "peak software" where the most valuable problems are already solved (very unlikely), raising the productivity of some developers will not negatively affect other ones.

I'm fairly certain we'll hit the point where we can no longer reasonably throw bootcampers at jobs and expect professional output by 3 months way, way before "peak software". We already don't expect that from loads of other fields, both arts and sciences.

Frankly, we've already hit that point and nobody really wants to acknowledge it.

Is a college degree absolutely necessary? Probably not (but extremely valuable, nonetheless). But bootcamps are completely worthless. At best they can operate as a screen for the already capable, but they certainly don't market themselves as such.