I would argue risk is the most accurate explanation. While many, many businesses and public areas have surveillance cameras, so much so that it's almost impossible to even leave your house and not be photographed or videotaped somewhere during the day, not many of the owners or the authorities ever review the tapes. They don't have to.
There is ample evidence to suggest that a major factor why people do not commit more crimes than they do is that they are afraid of getting caught, and many will freely admit that if they could be guaranteed they would not be caught, they would commit certain crimes, even violent ones.
So the risk factor involved with losing your personal freedom is greatly increased since cameras have come into use.