It can only be recommended. Try watching my other video where I show how precise it can be done. For people who are not interested in camera use in LB it is probably a bit long winded 
I have and use that too, but only for rough orientation. Placing irregular parts on the machine bed, in a way that minimizes possible waste, is incredibly easy, fast and precise with a camera. I often only have a mm distance to an existing cut contour, it only takes seconds to get it done.
So what camera are you using? The image quality you show is a world away from what I managed to get.
You mention using the red dot pointer as well - presumably for a rough initial placement. Mine is set up with an x-y offset - that presumably affects the position of the image you get from the camera?
I have the slightly older type of LB camera, 4 (or 5) MP, 95 degree, manual focus like all cameras from LightBurn. It is the lighting conditions that are the most important factor or better said, the ability to regulate the exposure/light of your camera. Without that, the camera is not usable, as I have documented, for serious use. Finding the best suitable coverage angle/camera is also important, a camera that covers the double area of your machine bed, causes problems with lens correction, i.e. the average quality drops significantly.
I use/used red light pointers and cameras on my diode and the 2 CO2 lasers, cross laser on the diode laser has the advantage that there is no need for offset. On my Co2 laser there is a dot pointer, mechanically adjusted to my 2" lens focus, i.e. it only fits if the laser is focused correctly on the surface of my material. Here there is no need for offset adjustment. I worked for a while with a “head mounted” camera which worked fine, here I had to compensate with offset to the camera, which did not affect the image itself. The machine is just told that the camera is offset and not the laser.
@Colin have you or anyone else from LB managed to watch my video with the “webcam settings” app? Can it be used to upgrade the Mac version of LB?, so that it can catch up with the Windows version of LB?
We’re working on MillMage issues this week. Sorry.
Is there room for LB / my question again
@Colin are there any serious considerations from the LB side, to use something from this thread to get the MacOS-LB version to work useably with an LB camera?