There's been quite a bit of FUD spreading since this story hit, and I'm convinced that the security researcher involved has some misconceptions about what it means for content to be encrypted. He seems to believe that because he can see the network requests in browser developer tools, communication is not encrypted.
Up to this point, the most solid claim is the fact that thumbnails are transmitted to Eufy to facilitate push notifications. Eufy confirmed this, and pledged to improve the messaging on the options that enable the feature.
The concerns related to the streaming of video is as-of-yet not confirmed, and would indicate a breathtaking lapse on Eufy's part if true. It's been disheartening to watch all of this unfold with too many folks taking pretty huge claims at face value. It could be true, but people are acting as if it absolutely it.