The Action Camera suffer from the network angles snap.
To avoid broadcasting characters orientations on every changes, the engine will only forward it when a change reach a given threshold. The problem is that this mechanic is also applied to the Action Camera, making it impossible to aim accurately.
The phenomenon is particularily blattant when you got an enemy player or NPC whose head is the only body part not obstructed by the top of a wall. Your bow shots do not land where you are aiming excepted when you meet the angle snap threshold, making the Action Camera pointless.
Side note: i would rather have a key that enable the action camera as long as it is pressed than a key that disable the action camera as long as it is pressed because the later often get you killed when you have to escape a zerg that portal bombed on you.