I went to this program, and I will say that while there are some horrible students at CAP, there are also some really phenomenal ones.
That's the problem you run into when you have so many people in your class... with 60 people in my freshman class, I'd say 1/3 were amazing, 1/3 were mediocre but not completely terrible, and 1/3 WTF. By senior year, a lot of the bad people have dropped out, transferred, etc. Our senior CAP showcase had 20 actors. (Our NYU Tisch graduating industry showcase had 12... you have to be selected to be in the all Tisch one, not everyone is guaranteed a spot.)
There is some misinformation about the acting training in this thread. I did not LOVE LOVE LOVE CAP21, don't get me wrong, but the training isn't completely terrible. The structure of the training, however, is where you get such a mix of alumni with seemingly different skills. That's because there are 3 or 4 "sections" to split up the students, and each of those sections have different teachers. Sometimes they overlap, but unlike UMich or CCM, not all students will have had the same one or two acting teachers in common. It is "collaborative" in the sense that there are many different people working together to train, but there is only a very basic standard on training because of this. They also can't threaten to kick you out like other programs if you aren't performing up to standard. (NYU won't let them, except in 4 year for showcase.)
My advice going into this program is to choose to have the best education, because they will NOT do it for you. Make sure you are getting what you need, and let them know. They will not hold you by the hand and tell you what to do because there are just so many students to keep track of. I actually requested my acting teachers, not only because I connected with them and their style, but also because some teachers were, in my opinion, not so good. I'm not sure who's there now because my two favorites have moved on (Jay Goldenberg and Alix Korey, both genius), but I can at least recommend David Hibbard, Kate Guyton, and (even though she is slightly nuts) Eliza Ventura.
There was plenty of dance for me, but then again, dancing isn't one of my natural gifts.

They often let people who are hardcore upperclassmen dancers come into other classes if they want for additional training. Same with voice training - I think the vocal performance classes are great. I also took double voice lessons and used one session as audition rep coaching and one as technique.
The girl saying that CAP kids are bad actors is just mistaken. There are a ton of CAP grads in film and TV and in straight plays on Broadway. There are a lot of actors from my class including me who have performed and are regularly cast in actual roles professionally - CAP does not just churn out chorus members. I think a better way of saying what I think she means is: there are so many graduates with different training experiences at CAP that some go out into the world and are less than stellar.
If you are a person who has their s#!+ together, who doesn't need to be held by the hand past freshman year, isn't afraid to speak up for yourself and your education, and wants to learn the ropes of NYC and makes those connections before you get your BFA, I'd say this is a great program for you.