Ignoring my trade for a moment & looking from a Homeowner point of view, anything IoT makes me a bit nervous.
Lots of IoT devices (such as televisions, dishwashers, refrigerators, thermostats & such) are favorite targets of hackers because security updates are not always a priority with those companies. If someone hacks into the homeowner's network, potentially they have access to the computers (and the private data thereon) which also are on the network.
For us, our IoT devices are on a separate & isolated "Guest" network. If someone gets in through, for example, the thermostat, the bad guy can't get to the network that has our computers & all of our medical, savings and banking data (which has almost enough money to buy them small fries at Burger Biggie). The bad guy can, however, use the thermostat break-in to access other things on the Guest Network.
And someone did twice. A scoundrel got in, assumedly through one of the televisions, and wreaked havoc with our other TV sets and the thermostat. We were locked out of all. One even re-named the thermostat "I Got You". Then we got e-mails telling us that he would relinquish control if we sent $$$ in gift cards. (Dopey criminal. Each device has a manual Factory Reset button.) Needless to say, the Guest Network then got a stronger password.
I asked once a person who is VP of Networking Security for one of the largest corporations in Michigan if people actually do break into networks and computers through IoT devices & then get into peoples' computers & the data therein on the network. The Reply: "Constantly!".
So for me, as "Mr. Johnny Homeowner", I'd either use an isolated Guest network or skip automation for my automation systems at home.
For me, as "Mr. Big Shot Electrician", figuring out IoT makes my brain explode! I'll leave that to the wiser set. (Translation: Younger set)
Paul