So I think this is completely wrong. Bootcamps are providing a route to jobs that doesn't involve taking another for years it for a university degree; it's a massive gain in efficiency.
By being smaller, bootcamps should have more ability to pivot content to match market demands, and give students advice on directions to persue. Front end development needs for entry level people are getting satisfied, so it's time to how some new teachers and refocus curriculum. Camps need to market as great learning spaces, rather than throwing their whole rep behind a single specially.
The notion that the space is overcrowded is bullshit; it just depends where you set your sights. I don't think we would call university education an overcrowded space, in spite of serving many orders of magnitude more students than the bootcamps currently are... One can argue that there are too many law schools, charging to much to create too many entry level lawyers. Hand wringing about these two camps closing is like worrying that there are too many law schools specializing in bankruptcy law.
Ultimately I think the closures are more about these two companies failing to adapt than any kind of general lesson about bootcamp education.