Good evening, @AnishBhatia ...

When you embed a Studio video from your Canvas Studio library into a content page of your course, you'll still be able to view the "Insights" data for your video even if you keep the comment ability turned off.  To test this, I added a YouTube video to my own Studio library.  Then, I embedded that video onto a content page of my sandbox course.  I left the "Display Media Tabs" toggle switch turned off.  Once I saved my content page, I masqueraded as a student using one of our dummy student accounts, and then I watched parts of the video.  I then exited from the dummy student role and returned to my own Canvas admin role.  I went to my own Studio library, and I was able to view the "Insights" data.  Note that you may have to select the name of your course from the drop-down list that appears above the tabs for "Details", "Comments", "Insights", and "Captions" ... as I've done here.  My course name is "Pandora's (Sand) Box".  I hope this will help a bit!