I think putting them in high traffic retail areas is a great idea. I've noticed my local Walmart has stopped locking up razors. Home Depot is getting bolder with what they'll chain up in front of the store. I believe these cameras are having some positive effect on our public places. Putting them in private driveways or in residential areas is where it starts to get really obnoxious.
If you are not happy with the idea of things like felony retail/automobile theft, there aren't unlimited solutions available. Some kind of dystopian surveillance grid is perhaps the least crappy option today, all things considered. If you want to see an alternative, look to Singapore for the ~other option. I would be very open to a conversation about trading the Eye of Sauron for caning.