In the 1990's tech was big. So we hired any sap who had vague credentials to do the work. 100k a year to work in front page and call yourself a web developer. A bunch of hacks who worked in VB only and called themselves programmers. Creating an infrastructure where Systems Crashes were common and massive security holes.
2003 the tech bubble burst. Luckily a lot of the dead wood left, but then they went into real estate, where they rode that bubble, until it popped, due to inadequate work, and rushing for the fast buck.
What the employers need are high quality workers who care about their work. However there is a gap. Cheap H1B labor who are so cheap that you can just get your quality up by throwing more men in it, then there is the skilled person. Who will work up and go to bigger and better things. Because a small companies cannot afford a star performer.
But there isn't a good gap of dependable workers. Perhaps pushing for a 2 year program may fill that gap. Or it may just bring up the get rich quick group of people back in the 1990's