Especially because pixel count is a meaningless metric by itself. 12MP is the same as a Nikon D3, which if it could replicate the results of I would be happy with!
Absolutely, I have a 1080p Logitech webcam that gives worse quality in anything other than perfect lighting, whereas my 720p Intel Mac Air webcam gives grainer (but at least usable) quality in most conditions. Sensor quality and software have to be good too or it's just a spec pissing contest.