@brainblasted
"Never attribute to malice what can be explained by incompetence."
I'm in the IT field, and I've seen numerous companies COMPLETELY sidestep security. Not even https! I mean, sure, we can provide an encrypted login, but it does not - "PERFECT! Can we have it the next week?" 🙄
Now think of salted database info on customers? Oh it costs more? "Nah, we can handle that. Just put it behind a firewall or something." 
@brainblasted
If anything, cheap IT companies overselling their products and promising security that doesn't exist.
Trust me, the IOT people are CLUELESS about security. They just outsource the software because they think "it's just an appliance! Why would it need security?" "Dealing with changed passwords is a mess. Use the default."
Clueless, I tell you. CLUELESS.
Want better IOT security? Demand regulations.