I see a Internet of Things more as Information Overload not something that is of any real benefit to Humans.
I distantly remember a SiFi film where there was Bulk Data available to everyone and those who worked with the system continually improved the bits that they worked with and because no one had any idea of how the complete system worked they eventually broke the entire thing.
I can see things heading that way very quickly.

The NBN on the other hand here will be a great Back Bone and deliver things a lot faster and reliably but other than that and the need to redesign existing networks that will be connected to it for the larger data throughput I can not see any benefit of it either.
Col