Hopefully, since this is being developed by people with 'Mozilla-sense', this will turn out well and be a as security enhanced as possible. We'll watch and see. It's in Kickstarter right now but this has to come eventually.
All I care about is that the encryption for the device remains on the device.
If we are to be forced to go with this naive concept of safety of 'The IoT', please let's remember how important it is to retain control over our private lives and our data.