miss out on potential opportunities and careers
If you teach a 10 year old to write "code", that won't help them in 8 or 10 years time when they try to apply for a job. The "code" technology will have moved on in that time, so the stuff they learned a decade ago will be obsolete. The knowledge that a professional programmer has, has a half-life of a few years: maybe as long as 5 years in some areas - possibly as a short as 1 or 2 in rapidly developing fields of work.
Since nobody can tell what skills will be needed in the next decade, learning a particular coding language, the "learning to code" is almost certainly teaching the wrong language to children. It would be far better to teach them basic maths, basic logic and how to think in abstract terms - rather than focusing on tangible, here and now, stuff that will produce children who can blink an LED on a Raspberry Pi today, but will have no clue about hw to deal with the "AI on a chip" they might be faced with when they start their professional careers.
When I started my first job after graduating, the job description didn't even exist when I started my university course. So what is the chance that teaching 5 or 10 year children a specific computing skill will be relevant to their career prospects in 10-15 years time?