We've already got cctv in our homes (assuming most people have camera phones, webcams etc).
Its been proven they don't reduce crime, all the tax payers money wasted on cameras would have been better spent on the actual cause of criminal activity: poverty and the ever increasing rich / poor divide.
I think it's self-evident TPTB have no interest in actually solving problems. Their interests lie in exploiting us for profit and control.
Don't burglars wear masks?
That would make all this talk of facial recognition and eye-level cameras redundant.
Indeed. Only an idiot would make no effort to conceal their identity while committing a crime.
I can see this initiative being much more helpful in the prosecution of occupants of the household or their guests, who may be stupid enough to openly engage in criminal activity. (ie. Drug use, child abuse, domestic violence, harboring a fugitive, parole violation, etc.) For anyone with a little more intelligence, it would only make it a little more inconvenient.
All in all, this initiative is really nothing more than an invasion of privacy, but like newflesh already alluded to in the above comment this is an ever increasing trend and those who ascribe to the "if you've got nothing to hide, you've got nothing to fear" mentality will likely be the first to sign up.
<Edit> Enforcing rulings like this one, is what I think this initiative is really for.
https://bitcointalk.org/index.php?topic=985564.0