We're working on mitigating this by having an open hardware platform. The idea being that, even if our cloud service isn't up, you can re-flash the hardware to do anything you want. And you can use our documentation to do it so you don't have to reverse-engineer everything from scratch.
I'd like to see more companies follow this approach. I've at least a handful of IoT devices that are effectively bricked, which sucks because I know they have decent and usable innards.