Yes, your camera can be turned and mounted in the direction as shown in the pictures.
Maybe someone will come along here with a better description. I'm new to this too but have mounted a few of these cameras with the wall mount (and other mounting) brackets.
Your setup consists of the wall mount bracket, the camera mounting base, the camera hold bracket, and the camera. The camera mounting base has holes in it that you need to align to the wall mount bracket. Once you find the right alignment there should be 4 screws that hold the camera base to the wall mount bracket.
The screw you're pointing to in the pic is on the camera hold bracket which holds the camera to the camera mounting base. If all wires are pushed into the base and bracket and the camera is seated in the hold bracket correctly, then yes that one set screw is all that's needed to hold the camera to the base. But make sure the everything is seated correctly as sometimes the back of the base (opposite the screw) does not like to seat into the bracket and the camera could fall out. Make sure there are no gaps around the hold bracket and tighten down the set screw.
