Holberton School bootcamp accused of fraud

I've been following this bootcamp from the start because I graduated from the same tech school as one of the founders (Epitech). That school has heavily influenced the Holberton concept (not the ISA part though). While I'm not 100% on board with calling this a fraud yet (I don't feel that there was an intent to defraud students), I can see a bunch of issues with the ISA:

- Cost is prohibitive for a coding bootcamp run by its own students based on free online material. Not that I'm against the concept of participative learning, but by nature this should keep the costs low. Assuming a $100k annual salary (low by SF software dev standards), the bootcamp is a whopping 60K.

- Backed by VCs. This is the single biggest issue and what drives the insane cost. VCs want a big return on investment.

- Not a real solution to the student loan debt issue. Students have to repay a huge sum of money over a long period of time. That there are no banks or interests involved doesn't change the bottom line. I suppose that if you never get a job again in your life you're better off than a loan.

Overall there is still value in the bootcamp appearing to provide a path to some of the most recognized tech companies in California. I don't know if you'd have better success in getting hired than a comparable candidate from a community college.