A different take, and I'm not sure if this is controversial or not. The "prestige of your alma mater" is not just some empty signal. Of course it's not cut and dry, but yes, you tend to find much higher quality software developers graduating from the top of their class with a CS degree from MIT or Stanford than you do graduating from Codesmith. I'm honestly a little baffled this is even a semi-controversial take to begin with.
I've always felt like coding bootcamps were pretty much doomed to fail. I don't know why so many in the industry tried to denigrate the profession in the first place by pretending that a ~20 week bootcamp would suffice. It's like if the New York Philharmonic said "We're going to expand beyond the old stuffy prestige names of Julliard and Curtis, and instead start looking for non-traditional students who took a semester long 'Learn the Cello in 12 weeks' course."
But even then, the biggest problem with coding boot camps wasn't competition from AI, it was offshore competition. People in the US spent a ton to be trained in basic skills like front end web development when there are millions of people around the world willing to do that, at a similar or higher level of skill, for $20/hr or less.
I don't mean to denigrate people who took non-traditional routes to software development. On the contrary, some of the best programmers (and, especially, dev managers) I've ever worked with don't have CS degrees. Speaking of cello, for some reason an inordinate number of top programmers I've worked with have music degrees. But all of these folks just had a certain way of thinking - very detail oriented, extremely logical, extremely self-motivated, that is just not common among people at large. It's not surprising companies try to find talent where the pool is full rather than doing needle-in-a-haystack searches.