And I assume there is no way to make sure that the camera never connects to the internet without setting up firewall rules on my router. Because the announcement specifically calls out the ability for smart devices to phone home as a perk, I imagine blocking devices from phoning home isn't an option, and you have to assume that any device with WiFi will attempt to phone home even if it's not "smart".
If there was a way on hubs to have mobile phone like permissions. "This device can use local WiFi" and "This device can access the internet for Smart stuff" as separate permissions, I might be ok. But since most WiFi IoT devices are dumb and just punch a tunnel through your firewall so you can access them with a mobile app and wind up in botnets, I don't have a lot of faith in IoT companies to do it right, so until I can be assured (and verify myself) that WiFi doesn't mean "can phone home", theres no way in hell Im going to use Matter wifi devices.