Maybe, maybe not. It's not just $65k plus fees and expenses, its also the opportunity cost of having sunk a year into this.

How long would it take to recuperate those losses on a product manager salary?

Perhaps just landing an entry level product manager job would teach you the practical skills you need, and you get paid for doing it instead of the other way around.

100% agree. The key here is that they are targeting people who already have a CS undergrad degree and thus are likely already employed or going to be employed in high-paying jobs with good future prospects. I'm not really seeing the ROI on this.

Well it formalizes the product manager role.. so like an MBA? Here you also get connections across the software industry. You probably learn some skills as well. Longer term it might help push you further up the food chain.