Which is great, in a way. It makes it easy to solve a lot of problems.
"how do I control the fan in my room?"
"the power outlet is on the wifi and you can send it a HTTPS request from an app"
That's simple and powerful and cheap... But it's not really all that interesting, since so many things get solved the same way.
And sure, there's a lot of cool no applications enabled by the fact that it only costs like 10-20$ to embed a Linux computer with a touchscreen and a wifi connection into anything. There's a lot of stuff that was simply impossible to build (at least at a reasonable price) a decade or two ago.
But those things we're building are just less interesting, internally.
It's like the opposite of the "when all you have is a hammer, everything looks like a nail" problem.
We've invented a few hammers that are just too good at doing everything, so we no longer need screwdrivers or drills or table saws.
So the toolbox got smaller and more boring. It's mostly just the same few tools over and over again.