Do not be fooled. This consultation is important.
Unless it leads to a mass, pan-european vomit, backed by serious campaigns from those who see the threat to both civil liberties and economic competitiveness, this is the first step on the way to a regulatory nightmare that, whatever the supposed objectives, will protect major players from liability and allow the state to monitor everything that moves, while crippling UK/EU-based innovation from smaller players.
P.S. My own submission (as a "concerned citizen") disagrees with all the motherhood statements and repeats in every comment box the following (with variations):
"While I believe much of the above is needed, it should be developed by industry and professional bodies on a global basis to meet their current legal liabilities. I believe strongly that the Commission/EU should make no new regulation regarding the Internet of Things - whether to add regulatory burdens or to limit responsibilities and liability under existing law."