That is why NIST is doing this; most IoT I am aware of, including ours, needs a very secure channel, but for a relative short(er) time. So if it takes 6 hours minimum to decrypt it without having the private key, that would be fine for us and most IoT (that I have seen anyway) but bad for most general purpose computing, where you want 'infinite time' security if you can get it. I think it is a different and undervalued market, resulting often in bad security practices because we have no alternatives. The MCUs we use cost cents and are measured in mhz speed and kbs memory. They do have cryptographic co units but those are not very fast either while generic crypto algos tend to demand more and more power to guarantee longer periods of being decrypted by bad actors.

Edit: note that we are using RSA and, lately, Ed25519, but it takes 5-6s for the heaviest Ops and that is simply way too long. It is however secure and it works, so if that is it than that is it, it is just overkill mostly for what we need.