I don't think video capture is the problem, it's bigger than that. Google Glass has hardware for not only capturing video (like CCTV does), but also audio, timecode information, and GPS coordinates. All that data combined, linked to the user's Google account, that makes for a data mining wet dream.

I wasn't suggesting humans will be looking at all the footage like with CCTV monitoring, Google has millions of servers to do that. It already analyzes the content of each and every YouTube video -- it provides automatic closed captioning, translations, it recognizes soundtrack and links to music stores, it displays ads depending on the video content, etc etc.