"IoT Protocols" is a really wide area to try and cover, because the devices do so much. There's CoAP and what not, but even that's really not going to cover everything. Then applying "Security best practices" to that just makes it an even larger multiplier.

So yes, it's happening, but it's many many many different wars on many many many different fronts.

Things can get nasty even before you add any electronics. The vast majority of sex toys is produced in China with little incentives for good quality control. Before you put sensitive areas of your skin with dyed material, it would be good to be sure of its composition - but you can only trust what the manufacturer says is true. Then comes the issue of combining the right type of material with the right type of lubricant. And, last but not least, many lubricants contain substances that are not completely health-neutral. Many even don't have the list of components listed on the label. You can just hope for the best.