the primary value-add is one layer higher than a NAS, a standalone router, or homeassistant but would likely be built on those kinds of things. it's providing a range of hardware devices that can work seemlessly together in a way that you don't have to muck around with config files or programming and yet have it all be secure and private by default. the value is in an ecosystem of safe appliances that require little technical knowledge.

home audio/theater from prior to the internet revolution might be a good analogy: a bunch of separate boxes that each provide tailored functionality but all work together seemlessly without a lot of technical knowledge. that, but for all sorts of computing devices.