This is similar but not the same from what I understand.

You still would be paying Ring for storage here. There is also the platform effects that once you own one, you'll buy more.

While the ethics of the Ring, neighborhood & police relationship are debatable, my thought was much less ethical & more related to reselling data for advertising purposes to cover the costs of the whole system. Such an idea seems more geared towards large city foot traffic areas with lots of eye catching items to provide data with. Shopping centers, sports stadiums, etc., would be ideal.