It's a 5MP camera for still photos, limited to 720p for video--although the data sheet says it can do 1080p as well. Perhaps that's bottlenecked elsewhere in the system.
10x reduction from raw to jpg is not what worries me (provided decent-ish computing power) as much as that this is a theoretical maximum under lab conditions. When has any wireless technology ever delivered?
When 802.11n 300mbps was the hot thing that made LAN obsolete, you'd be happy to get 60 megabits (which is still plenty for most purposes, don't get me wrong, but it isn't 300). Bluetooth is more resilient due to spectrum hopping that I wish newer WiFis had taken over (no more channel madness where you either have to coordinate with 3d neighbors or, on auto, might have good and bad days; everything just uses the whole spectrum as efficiently as possible), but I still doubt you'll have one fps stable.
720p claim may be specific to the video recording features while the stills capture could be at the higher resolution. or they could just be over-sampling to help reduce with noise by down-scaling the larger resolution to the smaller.
It seems to me that unlike HoloLens and such, it's not trying to be seamless. It's almost entirely obstructing one eye with a small screen. They use a translucent case so you can sorta see around the screen, but not very well. Kinda butts up against what the actual promise of AR was supposed to be.
https://docs.brilliantmonocle.com/monocle/monocle/#camera