Few verticals outside of video storage could support a monthly subscription putting negative pressure on supporting a shipped product.
Most smart home products are anti-social and had a low k-factor. You don’t want to share access to your scale to more than a handful (2?) people. This makes market adoption slower than a social networking app.
Touched on in the video but median shelf life for these $200 products is 8 years. Thats very “bad” relative to most other consumer hardware. Especially say a $1500 smartphone that’s replaced every 2 years.
Actuation rates on many categories are abysmal. Your smart smoke detector may go years without sending you a message. Compare to say screentime for ChatGPT on mobile averaging hours per day.
Interestingly a lot of those floundering smart home products became thriving businesses when pivoting to smart office focus. Subscriptions go up, user counts go up, utility goes up.