Even though it's 8 conductors, you still put only one cable, that's much easier than even two wires.

Low voltage means you don't need an electrician license to DIY, because it's not going to burn the house.

Mass producing cables and electronics becomes cheap. The limiting factor is then materials, not complexity. Look at ESP32 controllers for $7.

Also, I d like my cable to serve 10 light bulbs, each of which may not only turn on/off, but change brightness and color temperature.