If the only reason we're comfortable with the police having a particular power is that they don't have the resources to use it in a way we don't like, then maybe we should reconsider letting them have that power?
These are not minor differences; participation means equal opportunity and "fair play", and it can't be stored for future use and retroactively used against people for future perceived transgressions. There is a limit to the traditional surveillance that a society would bear, while the latter is nearly invisible. It is a powerful tool to be able to track your political enemies at any point in the past.
The real thing we object to is dragnet surveillance, and we should think about how we limit police power accordingly. It might be the case that there's no effective way to prevent abuse of cameras in this way, and the only thing we can do is remove them. But if we reach that conclusion, it should be argued from principles, not kneejerk objection to cameras.