CCTV’s original meaning is ‘closed circuit TV’, specifically in reference to surveillance cameras set up by an individual or organization. Some governments use them for monitoring their citizens; many companies use them to monitor employees and customers.
In EVE, the concept of ‘recorded surveillance’ refers to cloaked AFK characters that have their output streamed to a dedicated private location (private YouTube channel, Discord, etc) for intelligence gathering purposes. Thus, the nickname of ‘CCTV’.
As for legality of this under EVE terms: @Rando_Rocket You need to open a support ticket and ask the GMs. Other players cannot speak to this with authority - we can only make educated suggestions about how CCP might view it based on the language in the EULA and ToS. Anything that seems like an edge case should always be taken before the GMs via support ticket to avoid getting in trouble.
It should also be noted that CCP is generally OK with the results of ‘is this allowed?’ or ‘how does mechanic X actually work?’ support ticket queries to be shared (unlike ‘why did I get banned?!’ tickets), so you should be able to report back to the thread with results of the GM review.