If you have seen electric wiring inside houses from 1920's, that's the state of IoT and internet connected devices today. Bad things must happen first for standardization and regulation to happen.

Consumer devices and gadgets are not my main concern. Internet connected building automation is in similar sorry state. Someone will do large scale apartment automation systems attack, maybe just single manufacturer is targeted and as a result 5-15% of apartments go nuts at once. Just messing with the air conditioning can kill old and sick people until things get fixed.