[orclev]

Your confusion is around where the end is in this case. E2E would be encryption from the ring device to your other device being used to view the feed (your cellphone for instance). Part of the difficulty in that case is getting the encryption key securely transferred between the two devices without exposing it to anyone else (a non-trivial problem). Assuming that was done in this case Ring employees would only have access to the encrypted videos with no access to the decryption keys to actually view them.

E2E Encryption is usually referenced in messaging applications where the ends are understood to be the two communicating parties, while in this scenario it's a little more nebulous.