The article I saw copied and pasted everywhere was a blogpost from someone who went through the bootcamp process (whether this person made it through or not, I'm not sure).
And actually, I specifically remembered the "counseled out of the organization" line as a sign that FB -- unlike many tech companies -- is actually tactful and respectful when it comes to letting people go for performance reasons (at least that stage in the process.
That's part of the reason why they call it "bootcamp."