Maybe I'm misunderstanding the pitch from the GP, but Wyze seems like it's pretty clearly a hardware + cloud services play, similar to most other IOT ecosystems except maybe Hue. The (optional) monthly cost paid there is for loosened restrictions on an already existing works-anywhere setup— it's an upsell for power users, not a cost of entry.
This seems a lot easier to me than on-prem cloud services, either in BYOH form ("but it's just software") or as a packaged appliance ("another hub to install, really?").
I would say that the closest thing to this right now for paid is coming from the storage side— NAS providers like Synology using hardware sales to support a limited ecosystem of "one click" deployable apps. And for free, it's ecosystems like HomeAssistant, which a lot of people just deploy as a fire-and-forget RPi image, but as expected with a free ecosystem, as soon as you get off the ultra-common use cases, you're reading source code to figure out how it works, and wading through a tangle of unmaintained "community" plugins that only do half of what you want.
the primary value-add is one layer higher than a NAS, a standalone router, or homeassistant but would likely be built on those kinds of things. it's providing a range of hardware devices that can work seemlessly together in a way that you don't have to muck around with config files or programming and yet have it all be secure and private by default. the value is in an ecosystem of safe appliances that require little technical knowledge.
home audio/theater from prior to the internet revolution might be a good analogy: a bunch of separate boxes that each provide tailored functionality but all work together seemlessly without a lot of technical knowledge. that, but for all sorts of computing devices.
This seems a lot easier to me than on-prem cloud services, either in BYOH form ("but it's just software") or as a packaged appliance ("another hub to install, really?").
I would say that the closest thing to this right now for paid is coming from the storage side— NAS providers like Synology using hardware sales to support a limited ecosystem of "one click" deployable apps. And for free, it's ecosystems like HomeAssistant, which a lot of people just deploy as a fire-and-forget RPi image, but as expected with a free ecosystem, as soon as you get off the ultra-common use cases, you're reading source code to figure out how it works, and wading through a tangle of unmaintained "community" plugins that only do half of what you want.