Yes, as in any field I'm sure there are scammers out there, or even just poorly conceived programs. So maybe what we need is a review site for these academies.
A review site would be great to have. But wouldn't someone who runs a scammy coding school be likely to pay someone to post a great review? To ensure accuracy, you would need a way of confirming that (1) the person writing the review actually learned to program at that coding school and (2) they now have the job and salary they claim to have. It seems like a hard thing to do, and the high monetary incentives for posting fraudulent reviews would encourage scammers to put a lot of work into gaming the system.
I'd love to see something like this. I mentor a lot of people and I'm always asked about particular programs, but I can rarely recommend anything in particular because I am not aware of anyone else who might have graduated from there.