If you bought one, all the "hacking" required is inserting a MicroSD card with a custom firmware on it and pressing and holding the camera's reset button to flash the custom firmware. From then on, the camera has the ability to boot from your MicroSD which can contain services that allow the camera to stream to local clients, among other things. More detailed instructions in the article.
Recently bought a Nest camera since it seemed like a DIY approach was going to be harder than I thought. Might end up returning it if I can get this to work how I want.
In there lies a hidden threat. Possible from a tiger nation state.
The surveillance threat is one that applies to any cloud-linked device, sadly. As a non-Chinese living outside of China I almost mind surveillance by China less; what are they going to do with it, after all? (Unless you count the Mariott guy they got fired?)
Xiaomi has consistently shown that they don't care about security (or at least consistently enough that they have lost my trust).
* Xiaomi android phones had some kind of analytics APK built in around 2016 that would send a shitload of data over HTTP to their servers, and even would allow downloading emergency updates over HTTP. Their "fix" was to enable HTTPS, but leave the ability to force downloads and continue to run the analytics programs on the phones.
* Their robot vacuum used a password of "robotrock" to encrypt and sign updates.
* Their "yeelight" smart-bulbs were recording audio and sending them back to their servers over HTTP.
* Their "air purifier" also sends analytics and does updates via HTTP without any signatures.
IIRC many of these were fixed at some point, but I know at least once they said (paraphrasing) "we aren't going to fix it because the device isn't capable of HTTPS", but I don't remember which device it was. And it's enough for me to understand that they don't seem to take data privacy and security very seriously at all.
It was like $25 on Amazon, pretty good deal I think.
Got the rtsp stream connected up to smartthings and blue iris and have had zero trouble with them.
They're only $20 if you order from wyze.com
That being said if you have a video server like MotionEye or maybe Smarthome has it (that was mentioned before), you can likely do some alerting based off that. I know MotionEye has email alerts and might have some other alerting that I don't use.
EDIT: currently 2-3 weeks backordered on wyzecam.com and out of stock on Amazon.