No disagreement with you, but note that electricity used to be that way everywhere and still is in some places. People adapt their level of technology dependence around it. Over time reliability increases dramatically. Likewise early smart phones used crummy network capabilities, but a feedback mechanism drove improvement in the network which drove increased dependence which drove improvements in the network... the same will happen on the home networks.
It's not like we'll all wake up Jan 1 2019 and have nothing but cloud-connected home appliances. It'll be an iterative process, and slower than phone/VCR adoption because fridges and the like are slowly-replaced so-called "white goods".
Chance of a Revolv IOT Home Hub working for the next 5 years: 0.000% this has literally already been shut down.
Caveat emptor.