Generating a password that is unique to the device and print it with a sticky label on the underside of the device isn't exactly rocket-science, and ISPs somehow figured this out at least two decades ago, which was the first time I came across that myself. Surely whoever developed this IP-camera has an engineering department who've also seen something like this in the wild before?
Yep, but if you do that you need to staff a help line with people who can say "turn the box over and look at the sticker, no the sticker with the numbers on it, it's white with black letters and says PASSWORD in a big font, no the password isn't literally PASSWORD, it's the line below that with the strange letters, yes, to type that one you need to hold the shift key and press 3..."
Remember that ISPs often have people who come to your home to hook stuff up.