Q1:What does WiFi mean on the camera?
Turn the WiFi on your action camera. The camera itself creates a WiFi signal network. After your phone connects to it, you can live preview, take photos & videos, and download images through the APP on your phone.
The camera WiFi is not connected to the internet, so it shows 'No Internet Connection' or 'Internet May Not Be Available' after connection. Your phone is unable to use the internet and doesn't cost mobile data, while connected to the camera's WiFi option.
The camera acts as a router/server, and one phone can only attach to one router(WiFi) at a time since it has only one network card.
Q2:Can I use the camera to live stream via WiFi?
Nope. WiFi means the camera's WiFi. Your phone isn't able to use the internet, while connected to the camera's WiFi option.
Q3:What is WiFi's maximum range?
Up to 10 meters in optimal conditions.
Unlike a cell network, camera WiFi has a very limited range, so you need to be physically close to your action camera in order for it to work.
Q4:Does the Camera WiFi work underwater?
Nope. All WiFi signals are greatly attenuated underwater.