In HN style, I'm going to diverge from the content and rant about the company: Nanit needs this storage because they run cloud based baby cameras. Every Nanit user is uploading video and audio of their home/baby live to Nanit without any E2EE. It's a hot mic sending anything you say near it to the cloud. Their hardware essentially requires a subscription to use, even though it costs $200/camera. You must spend an add…
Your way of phrasing it makes it sound like it would be fine to upload the video if it were end-to-end-encrypted. I think this is worth clarifying (since many don’t really understand the E2EE trade-off): E2EE is for smart clients that do all the processing, plus dumb servers that are only used for blind routing and storage. In this instance, it sounds like Nanit aren’t doing any routing or (persistent) storage: the sole purpose of the upload is offloading processing to the cloud. Given that, you can have transport encryption (typically TLS), but end-to-end encryption is not possible.
If you wanted the same functionality with end-to-end encryption, you’d need to do the video analysis locally, and upload the results, instead of uploading the entire video. This would presumably require more powerful hardware, or some way of offloading that to a nominated computer or phone.