Currently, and for a long time to come, the most important use cases for IoT product will satisfy the most basic of our needs; security. Every species of animal has its young look towards its old for security and protection. It is the most basic of our needs. And it is the need that Ring (and IoT products in the security category) has tapped into. To put it bluntly, I haven’t met any low income consumer who’s bought Echo (or Google Home) but I’ve met a few who’ve bought Ring (or similar IoT security products) for their homes. From my research/calculations, Ring sold ~407k units of products on Amazon over the last year. Just on Amazon!
I think Seyi Fabode writing for Hacker Noon is on to something here. I bought the Nest because I believed (and it does) help me save money on my heating bill. And I bought a Skybell (a video based doorbell that competes with Ring) because it provides additional security - and convenience to see who is at the door.
The dominant players in home IoT will be ones who meet a basic human need and do so conveniently - but convenience alone is not enough.