Bog roll is a commodity. Many smart lights are a monopolistic competitive market; some smart lights are "cheap" globes and those will be bought by price shoppers. Others have differentiating features (clean, bridge-less, requires a hub, dawn-to-dusk, dimmer remote, filament, Wi-Fi 6) which cannot be substituted for, let alone the benefit of creating a network of like-devices. I doubt one would ever put a Philips Hue globe next to a LIFX globe in the same fixture, which would strongly suggest the absence of substitutability.
BUD Price at posting:
4.3¢ Sentiment: Hold Disclosure: Held