It worked for phones.
Those who are old enough, raise your hands if you thought, in 1993, that within a few decades phones would come with a camera or two as standard equipment.
However, that's a special case, IMHO. It just turned out that a hand-held portable device like a phone is a good candidate for a general-purpose handheld computing platform. Not so much a fridge or a thermostat or elevator.
Obviously the development pathway for IoT is badly borked. Manufacturers don't program with security in mind, nor do they provide security updates... or updates at all, in most cases. Doesn't excuse starry-eyed speculations about SNAPping everything everywhere. Oh well. Somebody has to see stars or else we're all just looking down at the sidewalk.