This is also why you can buy very cheap remotely controlled/configured electronics (lighting, etc.) that require tapping into your home network through an app installed on your device(s). The money isn't made on the initial sale, but on selling on your private data later.
@lauren
One positive aspect is that the build quality of those cheap "smart appliances" will be pretty good, as that will ensure that the app usage will be reliable across the appliance's lifetime.
Now if only you could work around the app to directly use whatever protocol is used to talk to the appliances, like you would do by using a web browser instead of an app... 🤔