I tried to replicate this on my Android 11 Moto running App v. 2.43.0 (312) and could not. Both the back carrot in the upper left and the Android Back Gesture returns to the Events list at the Event time that was used to launch the Event Video. It never returned to the top of the list (most recent).
However, this may be an iOS App issue. Please see this thread and the response from Wyze: