Are Cameras Without Video Analytics Really A Security System?

I know this might touch a soft spot but i would like to hear people's opinion if they really believe camera is a security system.

My opinion is that if something happens and the video captures someone that the owner of the cameras does not know what is the chance to catch them? You usually see a guy in a hoodie or a stolen license plate.

It's not a real time alarm system and in many cases the cameras are not even connected to the alarm system.
Even with most video analytics they don't fit for the outdoors unless they are silly expensive.

Even so it seems the general opinion and the way the industry operates is that cameras are being put everywhere like a magic solution for any security problem although they don't solve 80% of them in reality.

I've seen businesses that invested thousands of dollars in cameras just to being broken in again and understanding the video they captured is useless even to the police in some cases.

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*******, **** ***not in any way a replacement for an alarm system, but should be used to complement a good alarm system.