The shop I'm part of is staffed by bootcampers or fully self-taught people. Not a degree in sight. They have to be passionate about code/computer/the web/technology/math/some associated subject to thrive, but when they are, it seems to work out. I'm lead to believe this is the relative norm for web development.
Bootcamps do not teach things like pointers, type-theory, or big-O notation. I'm not sure what they do teach, I'm self-taught and via MIT Open Courseware + other net resources, have learned a lot about those, but I have no idea how that compares to either bootcamps or modern CS courses. Not all of my colleagues know about pointers or type-theory, but the senior ones do.
I don't know if my experience is unusual though.
edit: nicer formatting.