This is exactly the trouble that i've observed in the last 10 years. lots of so called developers are not from formal training which for my opinion must include those CS subjects such as logic, algorithm, programming language, basic computing maths. 

too bad, the market demand for programmers badly, and the managers are looking for tool specific skill set, such as vb.net c#, asp.net.  but not demanding for good problem solver.  I've seen university graduates who cannot program with vb but have very good logic and design.  it takes them a few weeks to learn and program vb.  on the other hand, those graduate with 2 years diploma or even some 6 month cram course (MCSD), they can program in vb but with very bad logic and even cannot use the if then else effectively. 

I guess the training in CS is very valuable, one thing that i'd comment on is that some professor stand very strong on using the C,C++ or Java, linux. and try to exclude the microsoft tools.  That is something should be changed, the tools in market demand should be used so that the university graduate will have the adv edge.

finally, an example... CS training is to train the thinker designer of a table, those "instant" developer training is to train not even a carpenter but a labor who can use very advanced new tool to build a table. these skilled labor may not necessary understand why a table has 4 legs. 

rgds