Webcam not working after MacOS update to version 11.2.1
The webcam is working fine now. So, I want to note down what I did (although, it isn't much, and I'm not sure how or what exactly fixed the issue).
I stumbled across this post, asking a similar question. And I decided to follow along with the only answer in it. So, I shut down my mac, held down the D key, and switched on the mac. I kept holding the D key, and it booted a second time and went into recovery mode or something - it asked me to select a WiFi access point and enter its password. I got scared and clicked on the power button and restarted the system.
And that's it; when I open FaceTime now, it works fine. So, yeah, not sure what happened, but the issue seems to have been fixed somehow.