Not as bad as the headline suggests:

The request would appear publicly in the Neighbors feed for people in that area, notifying them with the option to provide footage for that incident. "If you ignore the request, the agency will not know; your anonymity and videos are protected. The choice is entirely yours," Ring said in the post.

So they aren't just taking your videos and handing them to police without your consent for this. It is essentially an event based opt-in. If you do not opt-in for that event, none of your videos are shared.

Yeah instead your totally reliable and trustworthy neighbor can choose to provide the footage...

Neighbor would have to see the request and approve it. I don't think you're accounting for how lazy and distracted people are.