Possibly, but I would say that I “discount” toys. Toys are fun! And you can learn plenty through play.
What I do feel is that many learning-to-code products add some benefits (an simplified environment, gamified rewards, etc.) but surrender others (a true open-ended environment, an invitation to create without narrowly targeted goals, and so on). Learning to code products have a place — maybe they are good fit for kids who just wouldn’t be interested otherwise — but I feel the rush to promote them is sometimes more about our need to invent “gee whiz” products than to serve real education goals.