The fact that ANY internet-connected camera system can be considered HIPAA compliant is ridiculous. Anyone who's had any exposure to the internet in the last 20 years has seen dozens of stories of cloud-connected cameras being exposed online... baby cameras, security cameras, etc. Combine that with the number of big hacks increasing, and the idea of any internet-connected camera being "secure/private" should basically be laughed at.
What will happen? Nothing. The hackers will be blamed, not the managers/executives who thought this was a good idea in the first place, or the multiple tiers of people who are responsible for security in these companies.