Its all depressingly inevitable.
Sooner or later it will hit the fan big time. Cars will be hacked and forced into accidents, houses set on fire or otherwise damaged. Personally I don't want any IoT in my house, ever; but that assumes that IoT-free housewares will always be available. Most TVs on sale now are internet connected and the gullible public will likely slowly uptake more IoT products over time; they may not have much choice in the end, e.g. so called "smart meters" being forced onto everyone.
The hackers will range from bored kids having fun messing with your appliances from the comfort of their bedrooms to organised hacking by foreign governments and terrorists. Even "friendly" governments and our own might not pass up the opportunity to eavesdrop on the proletariat via whatever means IoT provides.
Programmers will continue to be under pressure to churn out code that "works" without necessarily having good security in place. I can't conceive of how secure coding could be legislated, checked or enforced by law.
Governments will eventually act, in their usual clueless manner, passing laws that miss the point and just make life difficult for everyone. I don't see any happy outcome from IoT. Even if good security is baked in, security holes are likely to turn up and require patching, which in turn opens up another can of worms allowing external access to the core of IoT devices.
IoT is just a slow motion train wreck, however you look at it.
Biting the hand that feeds IT
