> originally we were all going to be able to host our own stuff in our closets, the 'intelligence' goes in the edges.

This would have required fiber to the home with symmetric upload and ipv6 and ISPs not blocking all the ports.

In the US, the vast majority of people still only have access to a crappy coaxial cable broadband connection, where they allocate a few Mb/s upload to a whole neighborhood.

The lack of that basic infrastructure and demand for always connected devices meant hosting at home was never an option for the broad populace, and so the market never had an opportunity to deliver those solutions.