I agree with you on this, but let's not forget that companies are still hiring from this diluted larger pool, and most companies (apparently) don't know why the

I agree with you on this, but let's not forget that companies are still hiring from this diluted larger pool, and most companies (apparently) don't know why they would benefit from more senior people. So in effect, senior people are competing directly with bootcamp grads, who may be very well able to accomplish the first-order tasks that are set before them. You and I may know how grotesque this can turn out after a couple years, but it's hard to convince a hiring manager of your longer-term value when they're asking you to whiteboard FizzBuzz.