Here is the fundamental problem (as viewed by a high level exec with 30 years of SW dev.)… your need/opinion, are in fact NOT the specifications as to what Wyze has decided to code the feature to perform. They choose to deliver/not deliver certain features of the “Share” based on a larger majority of what their users need /want. You may not agree with it, nor may it meet your needs, but that does not mean its a security risk, or a problem.
A “share” by it’s very nature does imply some level of trust that Wyze has designed into the product. You can tell they have taken into account some aspects of a “share” as they have a list/revoke, and some functions are limited. (like viewing the sd card). so yes, they have given it thought, they made a decision based on what they beleive is the best compromise for the majorty of thier users, and they have coded it as such,
again you may disagree, (that’s your prerogative) but it does not mean its a security risk/wrong.