something even more important to Apple than what you personally may think is valuable
I'm just going by the fact that Apple wants cellular so the camera is clearly lower down the list. Plus Apple has continually beat the drum that this is a health related device. So because of that I have to believe there are more/better sensors that they'd like to put in before a camera.
It's not that I think a camera is a stupid idea, it's that from Apple they make it appear they have other higher priorities.