So, no for the big names, it's simply not about employee abuse, it's genuinely about finding people qualified to work at this level of expectation. And once you're past your first few years, almost no one cares where (or whether) you went to school. If 2-year programs broaden the talent pool to more people not following the traditional path, more power to them. Whatever helps those bright enough to make a career of it get in the door is a good thing.
To a large degree I agree, but the basic problem is not that these companies do not pay enough, its that they will only accept the top 5% of applicants. The companies can't be bothered to train employees, so they have to choose between poaching each others employees, or doing without. Back in the bad old days, companies realized that it was typically years before a new employee became productive. Today, if a new employee is not "up to speed" within 6 months, they start getting bad reviews and ultimately will leave. Some companies have understood this and started co-op / internship programs, but most companies cannot compete under these terms, so they do without talent because they cant afford to buy it and have an even harder time trying to grow their own.