As someone who started a company around IoT before people were really calling it that, I agree with you that the IoT market is being polluted with crap. But I

As someone who started a company around IoT before people were really calling it that, I agree with you that the IoT market is being polluted with crap. But I think there is room for multiple service tiers for IoT devices. For example, some systems and devices need frequent, low-latency updates (such as lights that quickly and smoothly change colors in response to events), others need low latency but only a few packets per second (a light that only switches on and off), etc. So unless there is a low-power protocol that meets all those needs, I don't think we'll eliminate all of them but one.