More like buttercream frosting is made out of butter. Sometimes people make something similar from margarine, but it isn't quite the same, and isn't as common.

But even that analogy isn't perfect, because while buttercream frosting made from margerine is usually cheaper and lower quality, from what I've seen, "IoT" devices that don't depend on remote servers, or send back telemetry tend to be higher end and more expensive.