Not necessarily "wrong" but a weakness is that they tend to focus on concrete language syntax and skimp on abstract software design, and data structures and algorithms. The result is a programmer who knows how to write code, but may struggle on larger projects or more complicated problems, compared to a computer science or software engineering graduate.

Of course I've met developers from applied courses and boot camps who are driven, passionate, and gifted who have gone on to make excellent system designers and software architects, but generally speaking, knowing how to code alone does not make one a software developer.