I don't think they're as bad as snake oil.

I taught at one for a year and a good number of my students (it was above 50% last time I took a pulse) had life-changing career switches.

I think what people don't realize is that the student is really the difference maker, and that it really takes a lot of effort, dedication, and interest to succeed.

I think it's possible some of these folks could have "self-taught" their way to the same technical proficiency, but it would've taken longer, and they wouldn't have had as much of a professional network of alums, sponsors, etc upon completion.