Yikes! Here be some serious dragons.
Everyone in the industry has tried to launch the 'smart home', and all attempts have been met with absolutely no enthusiasm from consumers.
That's not to say that consumers don't want connected homes, but they're typically unwilling to replace everything in their house with a connected variant. Even when they do, they tend to focus on things with the correct size, look and price rather than it's connected platforms.
Take the most basic thing; the lights - who wants to go around and replace every lightswitch in their homes with a more expensive 'iSwitch'? Or even worse - have somebody come around to replace them for you. That's not at all desirable, and that's before you even get to the product itself - who makes it? Is it a company that make good designs which fit with peoples' homes (like IKEA), or a tech company which doesn't do any of those things (like Logitech)?
There are no shortage of systems and standards - such as Zigbee, Z-Wave, ioBridge and X10. Microsoft tried to integrate it with Windows Media Center and failed. Google tried it with Android@Home and failed.
Apple have, in the past, taken on such ground where so many had fallen and found its own way through the jungle. Can they do it again, here?
Personally, I don't think so. The real demon here is the MFI programme. If we know anything, we know that MFI adds a tremendous amount of cost to otherwise simple devices. Take the MFI Game controllers for example - I'm sure that a lot of us on here really want to play our iOS games with a real control pad, but how many have stumped up the crazy amount of cash to actually buy one?
Apple seem to be under some delusion that the MFI programme was a success in the iPod era and that it is the model which must apply to all future 3rd-party device partnerships. That's a dangerous myth.