hm, I dont know if these are exactly the reasons, but I've seen people beeing pulled out and had to hand the camera over to the marshalls (they get them back of course), so thats why everybody hides them under the seats lol.
Also not sure about the stop watches, they're more inconspicuous than cameras and some cars have on-board stop watches, like the GT-Rs or Porsches with the Chrono-Sport-Package.
besides, alot of people act stupid in any way, even with no camera rofl
Spoiler:
watch the gas filler cap