Maybe I'm skeptical... but "step one" could be the only direction it goes, skipping regular consumers altogether. It wouldn't be hard at all to have the proposed bill do something about all IoT security on the private, business, and government sectors.
It sounds more to me of these senators are more worried about the security of what happens behind closed doors than consumers. The talk of consumer security later feels like it is just there to placate us. I don't know if these particular senator's jobs are up for voting on in 2018, but 2018 is just around the corner and some senate seats are sure to be up for election. I'm sure with the way voting has gone recently, they have wised up enough to avoid alienating the voters that pay attention instead of counting on a blind following.