As I Have Mentioned Here OFTEN.....
Quote: "... It will be an IP-based protocol so it can connect directly to the internet rather than require a hub...."
So......this will require IPv6. And with IPv6 we have a fundamental problem with privacy......every one of these devices which gets connected to the Internet will be identifiable to a specific account, account owner....and probably location as well.
....and that's before we consider the lousy security delivered by most IoT devices....each one a potential gateway into each individual home.
Who wants this? The NSA, GCHQ, the Russians, the Chinese.......???? And the people who buy this crap are walking blindly into a privacy and security nightmare.
Welcome to the future!!