

Can’t remember when it came into effect, but randomized device specific passwords are also mandatory in the EU now. This was relatively recently though. It means every single device (item, not model type or class) has to have an individual password (also usually it’s on a sticker or something).
And yes, connecting any ip camera to the Internet is just dumb.
They took very large sums of money from venture capital firms. As in many millions. Those now require constant and perpetual number-go-up. This won’t stop getting worse, let alone get better. There are other services. If you’re a creator, use them.