It’s possible the camera’s measured 116mA current is just an average, and that it pulls pulses of much higher current, leading to pulsed excessive voltage drop. For example, if the current is momentarily 2A, then the voltage drop would be 1V, which might be too low for the camera, even if it’s just for a few ms at a time.
USB power is a complex topic that I don’t want to attempt to summarize in a sentence. But my guess is that it does not monitor power in the way you’re imagining. But what are you thinking, exactly?