In general if the product name has "smart" as part of its description, you should be very wary.
The amount of engineering effort needed to make IoT devices truly secure on the Internet is substantial, and many times the engineering team is rather green and not knowing what they don't know. Add to this that many companies will outsource their product development to design groups only based upon cost of the project, you end up with catastrophes like this story. Even larger companies like HP have had problems with IoT printers and they had to go through growing pains to get the security right, with lots and lots of reuse of code, checks, etc. And most design teams are only cost focused, and don't want to add the cost of using more mature RF/networking products with the included code stacks such as by TI, Laird, Qualcomm, NXP, etc.
So far, I have read about or myself found compromised devices in nearly all market areas: garage door openers, refrigerator, printers (why have Internet printing??!), smart doorbell cameras with off site recording, inexpensive network switches, smart LED lights (often color changing types), cars, RVs, phones (my goodness, that just makes you want to say damnit!), and now toothbrushes. And the hacked system vector is not always WiFi, as there are many other RF systems with another popular one to goof up being Bluetooth. The first automotive Bluetooth systems could be easily compromised, with one car type being used in a proof of concept in which the car was controlled by a passing car and the brakes were locked up while the car was traveling at highway speeds, triggering the anti lock brakes. And think about the Hyundai and Kia vehicles that can easily be stolen with a USB device. Same stuff.
One of my biggest scare was not even with an RF based device but instead an Ethernet connected SCADA device from many years ago. It had a huge installed base, and it was sending data back on forth through the network using ... ASCII. Yep. And it was SCADA. Used in power plants, substations, transformers, generators, ...
So the culprits are:
1. Businesses only counting R&D and BOM costs, with virtually no consequence for poor security quality.
2. Complacent and less knowledgeable engineers who are completely in charge of making serious decisions about cost vs. security.
3. Designing IoT tech into devices and leaving the update complexity up to the user. In my opinion, the user should never be required to be in the technology loop to make their devices safe. This is not the same as when it is used based upon common knowledge (driving a car, drinking hot coffee).
The expected long term fix for industrialized nations is going to be more safety agency regulations, So think of UL in the US and CE/IEC in Europe. These protect the consumer from poorly designed products, but these always add cost (no free lunch). I hate going in that direction because it will cause many clever products to go away, and others to never come to market.