"Secondly, Apple has a habit of abandoning things and shutting them down when it doesn't suit them."
That is not the strongest of arguments; every company does that (google reader, HP and PCs (for a while), IBM and x86 servers, etc). I think your worry is more that they won't provide an open specification and won't ever sell their business so that, if they leave the market, you can't shop elsewhere.
That's part of it but I feel it's a stronger argument when you consider the lifetime of devices we put in the home (how often do you upgrade your TV vs your phone vs your fridge). I expect everything in my house to keep working regardless of whatever happens with the manufacturer/provider but in the new world order, some aspect of my home life might be drastically altered because Apple decides that feature/service isn't important enough. Apple could mitigate this by being open but I'm not convinced they care enough about that either.
This is a good point. The light switches in my grandmother's house (two-button affairs from the 1920s) still work in 2014. My 1950s gas oven still works. Simplicity and longevity are valuable attributes in a piece of hardware (a house) with a 50-year design life. (I replaced most of my X-10 switches with photocells and manual dimmers after seeing the light on this one.)
That is not the strongest of arguments; every company does that (google reader, HP and PCs (for a while), IBM and x86 servers, etc). I think your worry is more that they won't provide an open specification and won't ever sell their business so that, if they leave the market, you can't shop elsewhere.