Ive been gifted a few IoT things over the years. They stay on their own network / VLAN or are unplugged entierly when not in use. The meme about keeping the firearm near the one thing I cant reasonably make myself is not innacurate. Tech workers are aware of the vulnerabilities and issues with cheap insecure IoT nonsense. As part of one of my nerds cyber security learning we hacked a smart cat feeder to snoop on wireless networks and allow a back door (we had their permission, it was a gift that was unneeded so they let us take it apart).

Edit: also a ton of that junk phones back to AWS, and usually pretty lazilly, if your learning pen testing or cyber security its a fun exercise to get this cheap crap and find out how it works.