I can see benefits to a closed circuit camera. I've never felt the need personally.
If it's not running free software and treated in a secure fashion (camera can't talk to anything other than the server, enforced at the network level, etc) then it's not a risk per-se.
However people would rather pay up front and pay subscriptions to get outside companies to run it than run their own their own equipment. In the 90s when I was excited about tech I didn't even consider that aspect.