I've had a few IoT policy papers, key notes, presentations, internal documents, and technical specifications come across my desk for review.
It isn't going to end well.
The potential for good is huge, but that only expands the potential for abuse. And given how horrible the current surveillance state is, I can only see it ending in a nightmarish, dystopian hell.
One thing that you will find in the specs is that security is mentioned, but entirely absent. Now, there are reasons for that, but it is something to watch.
But aside from that, the smart home is entirely creepy. Do you want people to know when you flush the toilet? When you take a shower? How long you shower for? When you cook? What time you go to bed? What time you get up? Do you use the toilet in the middle of the night? How you rinse your dishes when you wash them (sink or tap)? All that information can be exposed. It's beyond creepy.
Throw in the "cashless society" and all of a sudden other electrical consumption can be tied to electric signatures from purchased devices in the home. Hair dryer, electric razor, lights, lava lamps, electric sex toys, battery rechargers, kitchen appliances, etc.
RFID chipped packaging? Read by garbage collectors? The applications are near endless.
I'm sure that there are smarter people than me that have already dreamed up even creepier things.
But everything is always packaged as "consumer convenience". Well, "safety" too... 6 of 1.