I am one of those software engineers who think IoT was actually named that way because IOT is the middle letters of idIOTic. Yes, most of IoT stuff is not only Idiotic it is a huge security hole.
Why the fcuk does my fridge need a WI-fi connection? I have never had the inclination to check on my fridge when I am at work. And those light bulbs that can be controlled and turned off via WI-fi, you try the pretty light changes the first day you use it, then you set it to white and remove the dodgy app from your phone as it has been flagged as a security risk.
Then again it might be a great opportunity.