Cellular Home Automation
You don't need to share you WiFi key if you use a cellular ZigBee system; see IoT-Portal Hub
Why is that a problem anyway? I don't think your WiFi signal stretches to China. I think your biggest problem will be it stretching to all the rooms in your house.
I also don't think your £2 smart light bulb really has the processing capacity to create a sophisticated router which can hack into your Windows 11 PC. Maybe if you're still on Windows 98 you might get the Chernobyl virus but I'm not really seeing the issue.