The FDA requires information panel labeling for most food: I think it's reasonable to want to know roughly what we're eating.

I would not be surprised to see similar printed labeling requirements for IoT devices, in bite sized chunks that are more standardized than a device-specific EULA, e.g.:

This device runs on:

  firmware A (unaudited)
  web server B (UL approved)
  update expiry date: Jan 1, 2020

This device may:

  capture video, sound, and/or user input
  send user data to our servers
  send aggregated user data to 3rd parties