If you build an ugly system, everybody says how ugly it is, if you build a well-defined system, nobody will ever look at it.
Thus, the consequences for today are that connectivity is not a cost issue anymore but configuration is. Initially the Internet has been designed to route packets, the rest was left up to the application, today the Internet is more about routing money, package routing is just a side-effect;)
An IoT panel discussion has been lead by Alex Ilic from the Auto-ID Labs. The keypoints raised by the panelists Sanjay Sarma (MIT), Elgar Fleisch (ETH Zurich/HSG) and Scott Jenson (Google) were interesting and diverse. The Internet of Things should develop successfully in specific verticals first and then only derive generic principles for cross domain platforms. This would counter the "European" approach of EU-funded projects which have spend time and money on developing bullet proof and shiny solutions which have a hard time of adoption in any domain. There was, however, no consensus which approach would succeed, at least the Internet has followed build-it/fix-it approach;). History of industry has shown that whenever a dominant design  has evolved, the industry became successful. For the IoT we are still missing this dominant design, who could lead this effort, IT players, or verticals? Finally, healthcare was mentioned to bear the greatest potential for IoT, as here it is not just about money but about a huge societal problem. Healthcare is so expensive today and differences between developed and developing world are tremendous. IoT would have the potential to link information and devices, provide access, empower people, drive costs, and challenge expensive equipment, e.g. MRI's, with simpler sensors embedded in connected billions of phones.
Shouman Datta (MIT) built upon the argument of the previous panel discussion that IoT should not be just about money but even more about societal challenges. The grand challenge would be to build a platform that creates an ecosystem for other to follow. The vision of the IoT would be rather old anyway. Shouman mentioned projects like 'pay per pee', monitoring at the toilet, odd projects like 'print your face' and others. The ultimate potential for IoT in healthcare will be to connect a plethora of dumb disconnected device of today, increase patient safety and increase building a more comprehensive understanding what's going in the human body for longer periods of time.
Overall, the IoT conference has been a very exciting event. It has provided the unique mixing researchers and practitioners which is hard to find. I'm very much looking forward to the 2015 edition in Korea: www.iot2015.org