It's a great and rewarding hobby! But having cloud connected devices on the same network as your sensitive information is an issue.
Use a vLAN and IoT devices capable of local control. Use a self hosted hub like Home Assistant. Keep devices that collect sensitive information (like a camera) out of sensitive areas (like the bedroom). Then you should be reasonably secure.
I think this is something that's easier said than done. Maybe at our current level, but as these AI get more advanced... What is truth? Sure mathematics seems like an easy target until we consider one of the best use cases for AI could be theory. An AI could have a fresh take on our interpretation of mathematics, where these base level assumptions would actually be a hindrance.
So, if we put AI in an echo chamber it gets dumber? Wow it really does think like humans.
I think this is super interesting, and a really good idea. But as others have stated in this thread, very costly.
However until technology catches up, maybe we could have an interstitial federated platform. One that's super decentralized. Like 90% of the users running their own instance, decentralized. Anyone with a NAS can host they're own vids. Then the other 10% that are willing to host high bandwidth, high capacity servers, can work as caching for the most popular videos.