I'm willing to bet the software is NOT compatible with other cameras. Why? Well, because all cameras ship with the same software but with slightly different drivers. Therefore you will need the correct drivers for your specific camera to make it work and chances are your supplier already supplies the same camera software.
I had a bit of an experience with this when I decided to write my own video source for OBS for my AmScope camera. Unfortunately, I have now learned that USB is unusable due to the lag so on the to-buy list is a new HDMI camera.
I think you partial wrong, i said Camera works under Generic Windows Camera App, means it use normal communication without a special encoder and many cameras work like that for fast communication. So the software will not use special decoders and use just the generic USB connection. Obvious every camera have it drivers and need to be installed, but not all, Windows 10 already have tons of drivers ready and popular sensors or generics ones will install on the go.
To prove that i connected a old camera that i had before, cheap and bad and it works with the software, even the color ajustements and other features works! Windows installed drivers by itself and call it lenovo but it's a portable scope, what matter is that works well with lenovo drivers ^^
However this will not be true for every camera, special decoder requirements may need special software.
But my guess is the cheap cameras and medium models will all use the generic communication via USB, doing proper codecs takes time, hard to perfect, special software, special drivers, etc, and chinese bussiness man needs cheap product that works everywhere, not expensive product who no one buys stuck with a software, time is money, simplicity is profit ^^
EDIT: About the LAG i can say i'm pretty happy, i'm using an active USB 3.0 extension with 10M, plus a TP LINK USB 3.0 HUB from PC to my workbench and i can say i don't notice any lag (When comparing to HDMI connection with a 2m cable direct connected to a monitor) and the camera is USB 2.0, so pretty impressive. I'm temped to buy thier best model only with USB 3.0 with a much better sensor and 60fps...
I had buy the HDMI version because is always usefull but i end to use only the PC since i can do everything from there, record, snap, browser, full screen, switch programs, PDF, etc. I had also buy a HDMI recorder but the quality is the same is just a waste of money for me and you can't choose encoder or formats! i never expected that 10m of USB cable work so good anyway ^^ Still i have brought 3 extensions util come with a good one that works
Thats why i recommend this store, reliable products with good support, he always anwsered my questions