As someone who is perfectly happy with Home Assistant and Z-Wave, I worry that a bunch of mega corps getting together to create a standard will crowd out the market, and prevent non-local, privacy-honoring options from continuing to be manufactured.
If average consumers are told to simply "look for the CHIP logo", and the CHIP standard includes facilities for must-phone-home messages akin to streaming DRM, I'm afraid we'll just get pulled further into the corporate surveillance dystopia.