The thing about efficient markets is that lucrative activities which don't produce much value—borderline scams—can block activity which would be highly wealth creating. For example, there could be a huge untapped retail market for financial derivatives such as interest rate and fx hedges. However, it's very hard to access this market because historically anyone who has started selling such products has pivoted towards targeting degenerate gamblers in order to fleece them. Normal people who want to hedge conclude that it's better to live with the risk than to be the sucker.
Here we can see that there are lots of people who are prepared to make significant personal sacrifices to work in the software industry. The industry itself is crying out for more people and new people. But it literally doesn't make economic sense, either for universities or for new players such as bootcamps, to train people properly. It's vastly more lucrative to confuse them and then rip them off. It's hard to see a simple market mechanism which can resolve this, as opposed to rebuilding something similar to the gatekeeping and signalling functions around universities, commonly regarded as broken nowadays.
Here we can see that there are lots of people who are prepared to make significant personal sacrifices to work in the software industry. The industry itself is crying out for more people and new people. But it literally doesn't make economic sense, either for universities or for new players such as bootcamps, to train people properly. It's vastly more lucrative to confuse them and then rip them off. It's hard to see a simple market mechanism which can resolve this, as opposed to rebuilding something similar to the gatekeeping and signalling functions around universities, commonly regarded as broken nowadays.