In the months since the blind-spot camera was added, I've come to really appreciate having it, especially for changing into the right lane as it's harder to check the blind-spot going that direction.
I too think the display should be moved up since it's too often blocked by my right hand, but I think it might be bound by the UI's design "logic" to be connected to the bottom of the screen. My theory is that since this display can be dismissed by swiping down, they need to connect it to the bottom of the screen. V11 is actually pretty consistent about this (I believe everything in V11 that can be swiped down are connected to the bottom of the screen), so if they moved it up, either the dismiss feature would be gone, or they need to put in a "X" at the upper left corner to dismiss the blind-spot display, which would not be as good as swiping down but I guess better than nothing. Regardless, I hope it gets moved up somewhere on the screen in the future so it doesn't get blocked by my hand often.