By and large, the good things that come out of IoT will be larger in number to the not so good things, by virtue of the fact that folks are generally designing these things to do useful things. We know that because every technology that has been developed, its intent leads to a skewed distribution of 'good' or 'bad' uses. For example 'cars' many more 'good' uses than 'bad' uses, 'bombs' many more 'bad' uses than 'good' uses. Some things which are just a basic discovery like 'plastic' about an equal number of good and bad uses.
I am completely not persuaded that "developing nations won't benefit" as a stand in for 'bad'. There are two ways that argument fails for me, if this stuff is going to be a huge enabler, why is the article so glum? If its going to be a huge problem isn't not having access to it a benefit? That there will be groups where it will be structurally impossible for them to get this technology at the same time is probably a good thing from a future planning perspective.