We have a dozen known vulnerabilities in common software packages every year, and these devices are using IP for communicating often confidential information. It can be disastrous for your toaster to be hijacked, especially if it can be remoted no and burn your house down.
This whole IoT disaster should have been predicated on free software, with some protocol support for authorized local network updates and maintenance. You know damn well that if Samsung cannot be bothered to update the OS on a four year old phone anymore, your Samsung Fridge or TV or futon is a lost cause.