Apple wants you to buy a new phone every year.

Home automation needs support for 30 years.

IoT won't ever take off without strict regulations on long term support and open standards, including escrowed support.

Apple has the best track record of anyone for length of OS support on their phones.

They're also trying to pivot from hardware purchases to the recurring revenue of "services". If making your home smart gets you to pay monthly for "Apple One" they'd probably be happy to support that for ages.