Perhaps you might worry about hostile IOT doodads snooping on things that arent their business or making insecure public webpages with UPNP. If it is just devices you truly control and you never expose an unhardened device, then a walled garden can be fine.

Also, if WPA2 ever becomes extremely broken. There was a period of 3-5 yrs where WEP was taking forever to die at the same time that https was taking forever to become commonplace and you could easily join networks and steal facebook credentials out of the air. If you lived in an apartment building and had an account get hacked between maybe 2008-2011, you were probably affected by this.

Main reason is that it's hard to get certificates for intranets that all devices will properly trust.

Public CAs don't issue (free) certificates for internal hostnames and running your own CA has the drawback that Android doesn't allow you to "properly" use a personal CA without root, splitting it's CA list between the automatically trusted system CA list and the per-application opt-in user CA list. (It ought to be noted that Apple's personal CA installation method uses MDM, which is treated like a system CA list). There's also random/weird one-offs like how Firefox doesn't respect the system certificate store, so you need to import your CA certificate separately in Firefox.

The only real option without running into all those problems is to get a regular (sub)domain name and issue certificates for that, but that usually isn't free or easy. Not to mention that if you do the SSL flow "properly", you need to issue one certificate for each device, which leaks your entire intranet to the certificate transparency log (this is the problem with Tailscale's MagicDNS as a solution). Alternatively you need to issue a wildcard certificate for your domains, but that means that every device in your intranet can have a valid SSL certificate for any other domain name on your certificate.

Everything that matters in your home intranet should already be password protected and firewalled.