Correct. If your "security" camera has to connect to their third-party server, it's not your camera. It's their camera and you just paid them to install it in your home. They let you access it, but it's theirs. Read the Terms of Service. The video, audio and data is theirs. They can "peak" any time they want, and they can let others "peak" too -- like the cops or their pedo friends, but I repeat myself.
24/7 surveillance of everyone -- even your house, inside and out!
If you want security cameras build your own closed circuit system.