Earlier quoted context omitted.
His profile indicates that he graduated from UC Berkeley and previously pursued I-banking, so I wouldn't exactly call that "no degree, no experience." Also, a good coding bootcamp, properly applied, can easily be worth more than a typical random "side project", IMO.
That's a huge point. "Code bootcamp" can mean a huge variety of things. At its best, it often means "technical, business experienced, just transitioned into intensive software study", which is an enticing candidate. At its worst, it means something like "paid $50k to learn basic Javascript". Lumping those two together makes it really hard to draw any conclusions about experience.
* Other players in the space will likely make the industry look bad
* If you graduate the wrong people they can paint your company in a negative light
By and large, companies that get a bad university applicant who can't build a web app don't let it paint their experience of universities as a whole. But if the same applicant was from a bootcamp suddenly all bootcamps are terrible sources of any serious talent and they'll never be considered if they're in the applicant pool.