Scale obviously does not make this more okay; watching many intersections or cell towers is obviously less reasonable than a single intersection or tower.
In comparison: license plates, when in public, are always visible, and very easy to discern from one-another (different state-unique numbers); so in my mind the expectation of privacy is far lower.
Legally, overhearing a conversation is not different. If you are loudly talking about your drug deals in public in front of an officer, they can use that as evidence. A police department could hire officers to stand everywhere in public and listen to every conversation nearby.
Or, more specifically, they could stand conspicuously close to every payphone and listen. The phones are in public; the officers don't need to be uniformed. Practically speaking this is not at all different from wiretapping. That's what the police did in Katz- wiretap a public payphone.
Flock cameras are not in any meaningful sense different from having officers follow around everyone and record everywhere they go. Its irrelevant whether one officer is following one person or if many people are following them, each within their own small area. That would absolutely not be legal without a warrant. The only difference is a private company is doing it and selling it to the police, something that should clearly not be legal.