What you if a person is looking at private stuff and a 7eet haxxor manages to use one of the many many unpatched vulnerabilities. they could see exactly what you are up to: your banking details, your likes & dislikes etc. etc.
I think this should be disabled by default.
I think Jobs and Schiller have an evil plan: they know the secret backdoor and can spy on any of us. This is an outrage.
Also, there are Mac security products that can discreetly turn the iCam on. Supposed to be an antitheft thing, but in the wrong, voyeurish, hands it could be a problem.