Not necessarily. There are engineers without the prerequisite STEM or CS background, as well as folks without any degree. Even coding bootcamps. Talent is talent.
Although this may not be a secret anymore and it is a recruiting funnel - this gives many lacking a STEM or mid/top/elite CS background an opportunity to prove themselves. This seems like a great way to get noticed and bypass many of the unconscious biases instilled into engineering recruitment through training and experience.