And not just in the IoT field. Pretty much every company that could use their closed software/firmware/designs plus lawyers to enforce their right to render a product useless or obsolete, or simply becoming the only authorized to repair it then refuse the repair, so the user must buy a newer one, will eventually do that if allowed by the law.
John Deere has been really hostile to their customers, for example. https://www.vice.com/en_us/article/xykkkd/why-american-farme...