Yes it is possible. You can pass multicast traffic on a completely unmanaged switch. The lack of IGMP means that the multicast traffic will be treated like broadcast traffic and sent out on every port on the switch except the port the traffic originated from.
Desirable depends on your situation. If you have an isolated network with only the camera and TVs and you are only talking about a low amount of bandwidth you should be fine.
However once you add other devices to the network or connect to a router you are now exposing yourself to problems:
- Since every device on your network is going to receive the packets, they all have to process the packet header and drop them. This is going to increase the CPU load on devices like your router.
- If you have Wi-Fi access points that are not multicast aware they could broadcast the traffic over your Wi-Fi network as well.
- Adding an additional unmanaged switch as an uplink with now broadcast the packets over every port on that switch as well.