I bought a house with a "smart" boiler and the UI and app are absolutely atrocious.
Worse still it doesn't have basic functionality like my parent's manual system had 40 years ago like temporarily being able to turn it on without changing the schedule, doesn't have a weekend setting, requires me to send my email address and address to a third party who then have full access to when I turn the system I to holiday mode. Basically a lovely treasure trove for thieves.
Compromising the centralized server is a one-time cost; once you've snuck something in there to regularly send updates where you can see them, you get alerts on those 1/100 houses that are rich and dumb enough to pay for this overpriced "smart" boiler. Maybe you can even work out a way to let people all over the world subscribe to these updates for a fee and let them take the risk of actually breaking in and fencing stuff.
Heck, you could even hack your way into a bunch of other smart home servers, and bundle all of that up into a nice little darknet service offering regular updates of stuff like "everyone in a 20mi radius of a given point who is setting all their smart stuff to vacation mode". That sounds like it might be a pretty nice passive income stream if you don't care about the very obvious legal/ethical issues involved.
And maybe your nice little darknet service could also let people say "hey, do you know anything about jon-wood?" and reply with "why yes we do, here's a few hints, would you like to pay for more?".
The risk/reward calculations on this might only work out if you're a regular employee of a highly-organized crime ring instead of the mysterious hacker running a darknet site that serves as one of many hubs of a decentralized crime syndicate, I dunno. The hacker sure makes for a cooler story if you're writing a techno-thriller or a cyberpunk novel though. :)
In fact often the internet connectivity is a separate plug-in module you can just not install.
Loads of these devices get installed into garages and suchlike where the wifi is no good, so most installers will know that their systems can work without internet connectivity and will be used to installing them that way.
It seems a particularly bad design because if the power is out in our area then probably so is the Internet. (Apparently our local ISPs haven't discovered putting a UPS in with their last-mile equipment yet.) And yet these were battery-backed systems that could take over supply for our own property during an outage so having access to their UI to change settings in the event of a longer outage could be important.