Not just the weird meaning, but on my last Thinkpad the red dot and the slightly red glean of the camera lens look surprisingly like each other. Even worse I managed to get the cover in a position where it looked like it was closed, but the camera could still see.

Same on my Dell Latitude. Seems a very odd design decision. They've also centrally aligned the switch so that it's not immediately obvious from the switch position whether the cover is iver the lens or not. Super annoying.

To be fair a red dot is a design feature of lenovo. So at least it fits in nicely with the overall look of the laptop.

I just looked up to my "Lenovo Performance" webcam and saw its red dot [1] looking at me... some product designers have a worrying lack of awareness about de-facto standards and user expectations affecting the UX.

[1]: https://imgur.com/Kowt8WJ