What would happen if you put the camera closer to the outer part of the wheel, rather than nearly centered on the hub?

Could Horizon still create a stable-ish video out of that (where the position and rotation of the image are both changing rapidly), or does this require a relatively stable position to work this well?

(I have no particular dog in this hunt, I'm just curious.)

EDIT: I see that Kayou asked the same question, probably in a smarter way, here: https://news.ycombinator.com/item?id=7904992 but I don't see a response from petrakeas or stelabouras yet, so I'll keep my question here even if it is a little redundant.