Agree with much that has been said.
Though you said the money grab issue has been beaten to death, I can't help but throw in 2 cents on that angel. Camps are a VERY mixed bag. And if we had it to do over again, we would be much more selective about which camps we would bother with.
Some of the camps we attended were very "slickly" run and organized. Some of them arranged campus tours and discussions with various folks to keep the parents kind of busy for a period, while the players worked out with the coaches. One had an admissions officer come and talk about getting into the school, for example.
One of them put on a very interesting "day in the life" program for both players and parents to demonstrate what a day in the life of a baseball player at that school was like. That particular program seemed bent on putting on a show designed to "sell" both players and parents on their approach not just to baseball but to developing the player as a student and as person. (Of course, that sort of disguised the fact that it was really the players that were in "selling mode" and from the schools point of view the camp was really just a money making cattle call and that the school was likely to have little genuine interest in most of the players who showed up. )
Though some camps made a show of being more than mere money-making cattle calls, others did very little to disguise their true natures. (the money-grab thing, I mean) Once I sort of wised up to that fact, I would hang around for awhile and then go do something and then come back to watch my guy compete. The level of competition was often very high, despite the nature of the beast. And some of the dads, I actually got to know pretty well because we were on the same "circuit" as it were.
I should say that a couple of camps did lead to extended flirtations and follow up conversations with the relevant school. So they are not a COMPLETE waste of time.
For example, the school with the "day in the life program" actually scouted my son three different times and wrote to him a fair amount, but in the end didn't make him any kind of offer.
At still another school the coach called many months after they first saw him to invite him to another camp -- after they lost an outfielder that they thought they had. The coach said they were interested in taking another look to see how he had developed since they last had a look at him. Unfortunately, he had just recently taken a 90 mph fastball on the wrist and was suffering from a deep bone bruise at the time. So they moved on to somebody else.
Point is that camps can lead to things, but it's the rare one that does.