Another precondition: Consumers should know what they are buying and not merely rely on what the seller is telling them. In case of investments it takes years for consumers to actually realize that they have been duped. That is why effect government regulation in banking and various other sectors matters.
In case of bootcamps it hardly takes any time to understand if you are being duped or not getting money's worth. I honestly do not see much case for government regulation in this case.
For a 12-week boot camp, it is going to take attendees a fair bit longer than 12 weeks to learn that they've been duped. A school, by definition, takes in people who don't know what they're doing.
Sure, most HNers could tell in a day that they're being duped. But most HNers don't need the boot camps in the first place to get a tech-sector job.
What is difficult for ordinary people is difficult for government too. How can government figure out the usefulness (which is a not so tangible thing) of a bootcamp ?
If government stays out of this it is likely that the bootcamps will end up giving "free one week course" etc. This is very common in India where non regulated coaching and training centers tend to give a free one day to one week course which the pupil may convert into a paid one.
In case of bootcamps it hardly takes any time to understand if you are being duped or not getting money's worth. I honestly do not see much case for government regulation in this case.