Not who you asked but: I’m afraid of the data being stored and available to anybody. As long as it’s out there, the government can compel others to give it to them; and companies can get acquired and structures and laws can change in such a way that the data gets in others hands perfectly legally.

Thus, I should only be okay with it if I’m okay with the “nothing to hide” argument, which I’m not.

Yes, yes, and I don't like anything home automation to be dependant on anything cloud. Enhancing function is fine but house that stops working right the moment internet link is down is a dystopia.

Both and more. Having my data sold to 3rd parties is an obvious first. And if you think the terms of service are enough to cover you, see how fast they can change in everyday life and please reconsider. Plus, data can be sold pseudo-anonymously and build up a profile against which your identity is compared and metered, as in, for example, health insurance risks or crime potential.

Additionally, we, the consumers, have lost the right to own things. Or at least, if we do own things, it comes with all sorts of strings attached in the form of "features" or "connectivity". Which is just marketing lingo to say that you're feeding the cash cow.