If you are designing an ASIC for the camera, you can include all the required logic gates to control the LED for a cost that is close to zero. It wouldn't impac

If you are designing an ASIC for the camera, you can include all the required logic gates to control the LED for a cost that is close to zero. It wouldn't impact the production cost of the ASIC, whereas a capacitor is an additional item in the BOM (and to be charged it requires current, more than the LED, so the driver in the IC must be bigger).