Firmware that runs peripherals such as webcams and keyboards is typically on
some sort of medium that cannot be modified, and the OS is not aware of it.
This would be the case for any webcam that might be found on the refurbished
ThinkPad laptops.
So yes, if there is a webcam, it probably has some embedded firmware in it
which is proprietary.
There's a secondary question, though, and that's whether or not the webcam
has the capability to do something malicious (e.g. a direct connection to a
wireless card). This is highly unlikely.