Ring 2 Video Doorbell (Costco): $189, plus $30/year after the first year of free video storage
Wyze Cam (Home Depot): $26 one time cost
Video storage: Ring includes one year of video storage, a rolling 60 day window, after that you need to pay $30/year to store video. Video is stored in the cloud. Wyze Cam includes free storage of video, a rolling two week window. Video is stored in the cloud (but see below for alternate RTSP implementation). Wyze also accepts a microSD card for local storage. Wyze can capture video continuously (only to microUSB card or RTSP feed), or in short bursts that are event-triggered. Ring can capture video event-triggered only.
Access to video: Via phone/tablet app only, no desktop computer access - for both Ring and Wyze. You can install different Wyze firmware that generates an RTSP video feed that you can store on your own server (you will need to be technically minded to make this work). You can still use the normal Wyze app alongside the RTSP, so there's really no reason not to install the alternate firmware, other than the mainstream firmware will be updated more frequently than the alternate RTSP firmware.
Video perspective: Wyze is wide angle, normal perspective. Ring is ultra-wide angle, with extreme fisheye lens distortion. With the Wyze, the view appears like the naked eye. With the Ring, once you get beyond a few feet, everything gets so small as to be unrecognizable. The Ring is obviously designed to capture up-close events only.
Video resolution: The Ring is fixed, and I don't know what it's resolution is. The Wyze lets you switch from HD to SD to 360P. I do not know what their definition of HD and SD is, in terms of pixels. Note that while there is more data transmitted in HD than SD, there's not a whole lot of difference in the picture - apparently the limiting factor is the lens' resolving power, not the number of pixels transmitted.
Power: Wyze uses a micro-USB port that needs to be plugged into a USB source, which could be a USB power bank if you need mobility (but that would be kludgy). Ring uses an internal battery that you need to remove periodically to recharge. Recharge is slow, 5-10 hours. Reports of how long battery lasts vary wildly - between "a couple of days" and "a couple of months". Ring can be connected to your doorbell leads (24 volts AC I believe) and this provides a slow trickle charge. I do not know if that trickle charge is enough to alleviate the need to remove the battery for manual recharging.
Configuration: Wyze - more configurable, more technical to accomplish. Ring - less configurable, easier.
Installation and initial activation: Ring is very nice, with clear instructions and pictures that appear on the phone app. Wyze requires a bit more technical astuteness.
Mounting: Ring must be mounted to a vertical wall with screws. Wyze has a built-in tilt/swivel stand that can be set on a horizontal surface, or screwed to a vertical surface. The Wyze stand is magnetic so will stick to a ferrous metal vertical surface (probably not stainless steel though, unless it's cheap stainless with a high iron content).
Mounting tools: The Ring comes with about everything you could need except a drill. You get screwdrivers, wall anchors, a drill bit, different angled mounting plates, etc. The Wyze, you will need your own screwdriver (although I would comment, if you don't even have a screwdriver in your house, you're probably not a candidate customer for either of these cameras). You don't need angled mounting plates with the Wyze, because the built-in base tilts and swivels.
Microphone: Both the Ring and the Wyze have a mic, both appear to be crap. However, this could be related to WiFi signal so I cannot comment with any authority on this.
Speaker: Both the Ring and the Wyze have a speaker. If you like listening to little 1/4" diameter speakers, I'm sure you'll love these. Otherwise, probably not so much. Honestly, I have not done any real testing with the speakers yet, so I can't really comment from experience. My expectations are extremely low however.
The Phone apps: Both are good. Preference will be more of a person opinion. Each has features the other doesn't, and also lacks features the other provides.
Target market: The Ring is a doorbell. Designed to be used as a doorbell. A fancy one, with video and sound, but ultimately a doorbell. The Wyze is targeted as an inexpensive video camera. It can be used as a security camera, but expect to have to do some technical stuff yourself to successfully deploy it in that role. It can be used as a doorbell, but the same caveat for "technical stuff" applies. Consider the Wyze a good solid first piece of a do-it-yourself project. Consider the Ring, well, as a doorbell.
Summary: I would say the Wyze are designed by techies, managed by techies, and targeted for use by techies. This is good, for features and configurability, but potentially problematic for customer service. I would say the Ring is designed by techies, managed by non-technical managers, and targeted for use by idiots. This is good for customer service (one would hope). If you want it in a nutshell: "Wyze is to Linux as Ring is to Windows" - this jingle covers configuration, features, customer service, and COST. Wyze is one heckuva lot cheaper.
Wyze Cam (Home Depot): $26 one time cost
Video storage: Ring includes one year of video storage, a rolling 60 day window, after that you need to pay $30/year to store video. Video is stored in the cloud. Wyze Cam includes free storage of video, a rolling two week window. Video is stored in the cloud (but see below for alternate RTSP implementation). Wyze also accepts a microSD card for local storage. Wyze can capture video continuously (only to microUSB card or RTSP feed), or in short bursts that are event-triggered. Ring can capture video event-triggered only.
Access to video: Via phone/tablet app only, no desktop computer access - for both Ring and Wyze. You can install different Wyze firmware that generates an RTSP video feed that you can store on your own server (you will need to be technically minded to make this work). You can still use the normal Wyze app alongside the RTSP, so there's really no reason not to install the alternate firmware, other than the mainstream firmware will be updated more frequently than the alternate RTSP firmware.
Video perspective: Wyze is wide angle, normal perspective. Ring is ultra-wide angle, with extreme fisheye lens distortion. With the Wyze, the view appears like the naked eye. With the Ring, once you get beyond a few feet, everything gets so small as to be unrecognizable. The Ring is obviously designed to capture up-close events only.
Video resolution: The Ring is fixed, and I don't know what it's resolution is. The Wyze lets you switch from HD to SD to 360P. I do not know what their definition of HD and SD is, in terms of pixels. Note that while there is more data transmitted in HD than SD, there's not a whole lot of difference in the picture - apparently the limiting factor is the lens' resolving power, not the number of pixels transmitted.
Power: Wyze uses a micro-USB port that needs to be plugged into a USB source, which could be a USB power bank if you need mobility (but that would be kludgy). Ring uses an internal battery that you need to remove periodically to recharge. Recharge is slow, 5-10 hours. Reports of how long battery lasts vary wildly - between "a couple of days" and "a couple of months". Ring can be connected to your doorbell leads (24 volts AC I believe) and this provides a slow trickle charge. I do not know if that trickle charge is enough to alleviate the need to remove the battery for manual recharging.
Configuration: Wyze - more configurable, more technical to accomplish. Ring - less configurable, easier.
Installation and initial activation: Ring is very nice, with clear instructions and pictures that appear on the phone app. Wyze requires a bit more technical astuteness.
Mounting: Ring must be mounted to a vertical wall with screws. Wyze has a built-in tilt/swivel stand that can be set on a horizontal surface, or screwed to a vertical surface. The Wyze stand is magnetic so will stick to a ferrous metal vertical surface (probably not stainless steel though, unless it's cheap stainless with a high iron content).
Mounting tools: The Ring comes with about everything you could need except a drill. You get screwdrivers, wall anchors, a drill bit, different angled mounting plates, etc. The Wyze, you will need your own screwdriver (although I would comment, if you don't even have a screwdriver in your house, you're probably not a candidate customer for either of these cameras). You don't need angled mounting plates with the Wyze, because the built-in base tilts and swivels.
Microphone: Both the Ring and the Wyze have a mic, both appear to be crap. However, this could be related to WiFi signal so I cannot comment with any authority on this.
Speaker: Both the Ring and the Wyze have a speaker. If you like listening to little 1/4" diameter speakers, I'm sure you'll love these. Otherwise, probably not so much. Honestly, I have not done any real testing with the speakers yet, so I can't really comment from experience. My expectations are extremely low however.
The Phone apps: Both are good. Preference will be more of a person opinion. Each has features the other doesn't, and also lacks features the other provides.
Target market: The Ring is a doorbell. Designed to be used as a doorbell. A fancy one, with video and sound, but ultimately a doorbell. The Wyze is targeted as an inexpensive video camera. It can be used as a security camera, but expect to have to do some technical stuff yourself to successfully deploy it in that role. It can be used as a doorbell, but the same caveat for "technical stuff" applies. Consider the Wyze a good solid first piece of a do-it-yourself project. Consider the Ring, well, as a doorbell.
Summary: I would say the Wyze are designed by techies, managed by techies, and targeted for use by techies. This is good, for features and configurability, but potentially problematic for customer service. I would say the Ring is designed by techies, managed by non-technical managers, and targeted for use by idiots. This is good for customer service (one would hope). If you want it in a nutshell: "Wyze is to Linux as Ring is to Windows" - this jingle covers configuration, features, customer service, and COST. Wyze is one heckuva lot cheaper.