Amusingly, with Hangouts down, Skype video chats have become unusable. Time to move to Jitsi[1]?
From a technical standpoint: I believe Hangouts is moving to WebRTC soon as well.
It could be a browser feature in the future to sandbox those webcam data so that it's only transfered to a specific opponent. That has some problems to solve and is just a raw thought.
Skype is from Microsoft and Hangouts is from Google, right?!
Thank you for your patience in the face of my utterly stunning cluelessness.