Built in camera: yes, but no smartwatche I have seen has high quality camera.
Wifi: yes Most android smartwatches have wifi
Whether it can run the app alfredcamera I don't know.

The main limitation running android apps is the extremely low resolution and small size of the screen. Mine has 360x360 resolution, but not even that since it's a circular display with 360 pixel diameter.

If you're familiar with the 'android debug bridge' you may be able to test whether alfredcamera's user interface is usable, by temporarily setting your phone's display resolution to the resolution of the smartwatch's screen that you are considering to buy.
In my case I connect to a shell with adb, then type
wm size
to get the current screen resolution:
OnePlus7:/ # wm size
Physical size: 1080x2400
Override size: 1080x2000

then i can set the resolution to the size of the smartwatch
OnePlus7:/ # wm size 360x360

Then i can launch the app i want to test (in your case alfred camera) and see if the user interface is usable at that extremely low resolution.
After testing, I can restore the correct resolution by issuing the "wm size" command again, with the Physical size of the screen.
The youtube reviewer "SmartWatchTicks" has been reviewing smartwatches for a long time, though he doesn't know much about android internals. He's a fun guy to watch and he covers a lot of the user experience side.
Hope this helps.
[EDIT] Holy cow, you've made 10971 posts (?!)