My oldest did a camp through our local talent search (not CTY) when she was just finishing up 4th grade, if I recall correctly, and while some of what you wrote wasn't the case where she was, we too felt that the level of the academics weren't what we were hoping for. To be fair, we've felt that way about a lot of the gifted summer programs she's attended, including ones run through our local schools.
We've been much happier with the level of the academics when she's gone to summer programs run directly by universities for kids who are generally older than she and, like Grinity mentioned, programs that tended to draw HG-PG kids not just all varieties of gifted.
