Best case scenario: users claim warranty and replace their devices something better
Worst case scenario: users need to buy new gear, they probably won't buy from that same manufacturer because last one died for no apparent reason. Really worst case scenario: users buy again the same cr*p and dies again, until they realize that brand is worthless and buy something a bit better. Doesn't seem so bad, if the alternative is having their machines taking down businesses and users...
FTFY
Im only having a few possibilities come to mind that are life-threatening. Most are just annoying or financial drain. If we add painful, maybe make an epileptic's screen on SmartTV blink fast like the attack on the web site. Turn off people's alarm clock enough they get fired and loose health insurance before major operation. Im really having to stretch it here.
John J. Citizen should be thankful if the person who finds it only wants to deactivate it rather than use it to poison him / shoot him / run him over. No matter who finds it though, it's tough luck for that person; they're the owner of that item in name only, if they don't secure it.
Society has decided in some cases (in domains well-understood by legislators, unlike IoT) that the person doesn't deserve to keep that item if they don't secure it. Example: "Improper storage of a firearm" or the like, is literally a crime in many jurisdictions and can result in losing your gun license. Creating a burden on or a danger to society through your neglect has in that case been affirmed to be unacceptable. The law will catch up with this too, I hope.
How about in arsenic? The Internet of Things is mostly insecure trash that will only be fixed by throwing it away. The manufacturers know this, and simply don't care.