Consumer standards set by the consumer?
While I concede nuclear weapons are useful in maintaining a tentative peace, I wouldn't consider buying from the enemy a wise move. Similarly, while IoT have some varying appeal, I consider every current supplier of such gadgets to be the enemy.
Letting the enemy define the standards that control your world is bonkers mad. Isn't it far better to have a consumer lead panel, that defines exactly how these things chatter amongst themselves, and presumably come up with a hub that maps device input to a predefined set of outputs. In that way, the consumer has full control over what potentially gets broadcast to the world, and can equally define what gets passed to the device. A robust command firewall, if you will.
With little of importance being transmitted, there is little in the way of juicy data to mine.
I appreciate the big players in IoT have been rubbing their hands at the income from selling on your data, and will raise every objection and obstacle they can to maintain that data income stream, but in a fair world they only get one vote each, and our collective 8 billionish votes should carry the day.
I can see some areas where the command firewall idea will fail, and that is with those demonic voice activated assistants, so perhaps for them, they too have to go through the same hub, but encrypted to the hubs standard. The hub can then decipher the message, log it, so the user can review all the chatter, and then encrypt it to the receiving company's standard before sending it on it's way.