This might just be ruffling feathers, but if you work remote why does your team lead need your machine's webcam?
That said, since this is company equipment, the more rational part of me says, "Put up with it."
But from a security/auditing perspective, this 'policy' is an absolute minefield, particularly because it sounds like each individual developer has to set up this account on his/her own box.
What happens when someone is fired? Does every developer have to change the password and disable the old account? What happens if one developer is off sick that day? Will the company keep that hole open until that developer comes back? Or will they kill off all of the sick developer's SSH keys?
Crap, it's hard enough to provide proper access control and monitoring when everyone has a unique credential. I can't even begin to imagine what that kind of policy would look like.