Re: I had to laugh
Like it or not, most domestic networks are to be treated as untrusted anyway. There is no difference between being inside the network and outside, because they just give their WiFi key to anyone who asks.
Therefore, a compromised IoT thing will be an inconvenience (because some bugger turns your bedroom lights on a 1am) but not a security risk as such. (obviously, that doesn't apply to CCTV cameras, door locks, etc, but as we say, the 'S' in 'IoT' stands for security)
Small business networks will be the most vulnerable, not least because the boss will just buy and connect this crap without talking to their (external) IT people.