Personally I think that is the opposite of what we need. Most IoT devices should be local-network-only. So if by cloud you mean a personal cloud (local network or VPN), then yes, I agree. Otherwise keep the interwebs away from my thermostat.
Maybe what we really need are more consumer-friendly, self-hosted (and secure) home VPN options. That way you can just run your services on the local network, and still have remote access without opening your devices to the world (or to other companies' servers). Until the average grandma can do that, the "personal cloud" idea will probably be overshadowed by manufacturers' desire to provide proprietary remote access options, because those go hand-in-hand with things like subscription pricing models, data mining, etc.
> Right now, the cloud - especially for IoT - isn't a healthy ecosystem. Your shiny new smart thermostat might as well be dialing into AOL on a dedicated landline. And unlike public services, these proprietary service providers lack long-term guarantees of service availability.
> What we need is a push for openness and interoperability in the cloud, and that will only happen if consumers demand it. The service providers are incentivized to do just the opposite.