I criticize in order to be a squeaky wheel for this Wishlist item coming into being. 
Yes, you are correct that this feature was not promised. The specs on Amazon state: “Continuous recording with local storage - Wyze Cam supports local storage of recordings to a microSD card (sold separately). Play back videos with your Wyze app to solve life’s mysteries. Local Storage - Supports 8GB, 16GB and 32GB microSD cards in FAT32 format”
It was only my faulty optimistic assumption that there would be an easy way to copy off the recordings to a PC without having to go and physically retrieve the microSD cards, or real time record footage from an often balky stream. It seemed obvious to me that copying the original digital files would be more reliable and produce the best quality.
When I bought my first Wyze cams there were no integrated bulbs, sensors, locks, bands, scales or outdoor cams in the offing. There was no aspirational investor video promising to do for security systems what Ford did with the Model T for cars. And I had not read this forum with a Wishlist of wondrous new features like artificial intelligence person detection (“xnor.ai” or otherwise).
But many of these cool and complex features have come about, while some seemingly basic security camera features like 1) easy video downloading of the MP4’s from the SD cards, 2) more granular detection zones, or 3) ability to ignore momentary events, have not happened yet.
So, yeah, this is also to alert Wyze (I know they peruse these forums) that they risk losing a current & future customer, and advocate for their products, as I am forced to consider other solutions for basic problems I need to solve.
I really like my collection of V2 cams and what they can do for the money, else I wouldn’t be here, but like a peaceful protester, I would also like to see things improve. 
EDIT
I forgot to give credit to one recent app improvement that has been the most useful and important to me - the ability to directly jump from a 12 sec clip to that exact spot in the SD card continuous recording. Wow. That makes my life so much easier every day!
And it’s one thing that gives me hope for future useful features like direct SD card access. 