Provided that regulation only extends to standardization of the tech
This is mostly about contract law. You buy a device that works as long as you follow its rules. Later, some exec decides to rip consumers off by changing its terms of the contract. That, in turn breaks the device. Or, Amazon believes you said a racial slur into Alexa and shuts down your account.
More regulations can only make this worse. Rather, what will happen is people will move away from smart features and buy devices that work as aplliances without an internet connection. This is what I do. I don't plug my TV into WiFi, I don't own Alexa or Ring. I own security cameras, but I don't subscribe to any subscription service. I treat devices as appliance. Actually, I treat all my PCs as appiances too. I never upgrade them, I don't update the OS. I use the functionality I paid for. When I need more functionality, I either buy an app (if it will run on my un-updated PC) or I buy new hardware and software. This avoids the unpleasentness of discovering upgrade issues.
I think the problem is just fundamental in the arrangement. These constant changes are costly to keep up with for all the products out there, especially when it all has to be funded by the initial purchase. As the article mentions, a subscription solves this but makes products far, far more expensive to own (pay $30 for a product then pay that much each year? no thanks) and opens the door to jacking up the price and eliminating features. Legislation can't make this less costly. Local control (and thus standards) seem the only reasonable solution. If the device follows a standard protocol, your home hub can follow it communicate. The standard is fixed so no updating needed. If you want device types and features not standardized yet, you're going to have to deal with the inherent problems.
OBDII was actually a good example of where this was done right. The government mandated a set of rules that everyone needed to follow. It ended the car companies attempt to squeeze out independent repair and lock down their tech. i.e. The way the farm industry now has. It wasn't until EULAs and software that they car companies have been able to wrestle some of this control back.
We need hardware ownership rules, it can't be OK to move the bar after a purchase.
That being said I roll all my own tech to avoid this shit. Home automation is an ESP8266 and a relay/sensor.
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