I've got a table of a zillion different methods with myriad categories of benefits and drawbacks. And a weighted scoring system. And ... I may be slightly obsessive about this topic! :)
I think it might be a good way. OS designs are a boon for the free market too, as they separate out concerns and allow independently competitive submarkets to exist.
One potential challenge I faced myself with my DIY attempts at IoT hardware was dealing with power. I'm not an electrical engineer, and I don't trust myself enough to plug anything to mains power - and I don't trust random OH stuff you can order soldered from China either.
