Yep, this is exactly the controversy I was referring to from two years ago. It only applies if you choose to upload video to their cloud, not your local storage hub.
If you read more about this, you'll find that the vulnerability has been sensationalized by Gizmodo. A malicious actor would have to go to great lengths to obtain a very long hash string and then append that to a URL to get access to the unencrypted content. That hash string itself is not accessible, so it is highly unlikely.
With that being said, I wouldn't recommend putting a security camera of any brand inside your home and pointing it somewhere you can't risk being seen on the off chance of a breach, but how many people are really looking to do that anyway?
100% destroy that potato. It's survived 7 years because that is absolutely a horcrux.