I have a Wyze Cam V2 black for a few years. Put the Bridge in and it worked great - but lacked distance. I then purchased the Bundle Pack which included a V2 Camera White. I put the bridge in that and it works a lot better and further than the other.
I think it may be the luck of the draw 
I am happy with my Wyze Sense and Wyze itself. Just need to work out the Notification issues with the Android Phones (Pixel4)
Would love to to have this option over in iOS … to be more precise, iPadOS in my case. An option like this could save my life some day.
There’s a Wishlist topic for that:
It’s more likely that the newer cam has newer, better hardware in it.
For example, in my GM truck, the old keyless entry system only armed & disarmed my truck up to 30 ft away. I replaced it(remote&module) with the next model year after mine and range increased by 300% or more. Checking the remotes & modules, there was an obvious difference in hardware. One had newer, better stuff that made it work further away. Smaller chips. Etc…
This may not be it but it could be something just that simple, and not just “luck of the draw”. That implies that their hardware is subpar and lacks consistency as well as quality. If all of a mfg’s products don’t work the same, there’s issues that need to be addressed immediately. I highly doubt that’s the issue here.
I agree with what you said. I indicated “Luck of the Draw” becasue in reviewing the Forums and personal experience, replacing the camera seemed to work. My In-Laws have 8 camera’s purchased at the same time. a few of them have issues with Distance.
But like I said - I agree with your assessment.
Also, please note: I for one don’t think the products are subpar or lack the quality. I have been through Smartthings and hubitat, and although there is not as many options or features, I would say the Wyze products are one of the finest out there. They are easy to install, setup, and use. I am converting my in-laws to 100% Wyze from Smartthings. Would not do this if they had subpar products.
Sorry if subpar was conveyed