As a "lowbrow horror academic" I find "shot on video" to be on of the most interesting labels that we put on horror movies. Like, in the 80s, it was an incredibly clear distinction, and "shot-on-video horror" is a wily-recognized as a legitimate classification of movies from a certain period, but it's also a classification that slowly became irrelevant.
As late as 2002 I could easily say Death Factory is shot-on-video horror and Cabin Fever is not, without actually knowing anything about the production of either movie. Death Factory simply has characteristics in it's picture and audio quality that make it clear that it was shot on video—the same characteristics that a mainstream audience might recognize as the difference between their perception of a movie and a TV show—but by the 2010s that distinction had largely disappeared due to advances in technology.
Aside from the specific term no longer being relevant, as films with $500 million budgets are also shot on video now, the distinction in quality has also largely vanished. That isn't to say that that a thousand-dollar camera used by real film makers is comparable to a million-dollar camera used by the studios, just that the gap between the two is smaller than it's ever been. You may still recognize that a film is made with less experience, and less expensive equipment, but the qualities that tell you that are significantly less distinct.
