I'm positive in your work you think in terms of resource investments and payoffs to better understand whether a project is worth continuing with, and that's exactly what the article means.
A smart home system is definitely an investment in my mind, and the payoff is a more comfortable and easier life. That is all the article is saying; the financial, time, and mental resources are no longer going to be invested into Google smart home products as the investment does not return the desired benefits and even leaves you with a net-negative.
The problems associated with it are why many, like me, refuse to be so dependent on any vendor.
And step one is to not buy anything that depends on the cloud to function.
But I completely agree with your fundamental point - it would be better described as a sunk-cost.
- Terry Pratchett, Men At Arms
Sounds like a sensible investment to me. You spent a lot on some hella nice boots and if you don't care about keeping up with style, you can amortize their cost over a lot more use than someone who can only afford cheap, shitty boots.
When people buy loads of crap and call it "investing in a [good] ..." is that some sort of coping mechanism?
No, you don't own boot futures. You bought some boots and you wear them.