LED is not in the middle of the camera, that's a reflection from his other recording device, not the phone. It's in between the two as seen here. (From my own phone). It is not very bright though at all. The picture looks brighter than it does to the human eye.
For those worried about it waking you or your spouse at night, don't. It's not nearly bright enough to do that and that is a good thing for most people. However if you rely heavily on the notification led, it is not bright enough to see from an angle, only directly.