I'm cautiously optimistic for Bluetooth Mesh giving z-wave a run for its money but its still very early days.
Z-wave's biggest short coming in my opinion is how easy it is to overload the network. Turning off 40 lights at once has half of the operations drop off due to the network getting overloaded and just dropping commands. If you have a few devices reporting their power usage, the network becomes quickly overloaded and you get the same command dropping crap in even simple operations like 'turn on light 2 when light 1 turns on and vice versa'.
I have a condo with z-wave everything right now, but after seeing how much of a mess all IoT home automation crap is, I'm going to sit and wait until we have something that works properly that doesn't cost $60-$100 per light switch or require maintaining something complicated.
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IMO we should have a dual network solution. Something like wifi for plug in devices which also act as repeater networks for the battery powered BLE sensors and such.
But it's dated (from the 1990s), there is zero encryption/authentication, and devices are kinda expensive.
I used to use insteon in a small test build out, but got frustrated with their bad software support. You have to use a ~$300 hub with a $80 PLM modem before you can get something half decent. And Insteon devices having a reputation of breaking after a couple of years due to using cheap capacitors and such put me off from using it any further.