Both Chrome / Chromium and Firefox have explicitly set policy that new features (as opposed to tidier ways to do things that already exist like DOM improvements) will require Secure Context, and there's already a weak assumption that even some tidying up will go into secure context when the rationale for not doing so is shaky (e.g. some of the web crypto features that needn't technically require Secure Context do anyway).
Why use slightly compromised HTTPS versus plaintext HTTP? Same reason they have those super cheap locks on diaries from the 90s: it's a deterrent. Makes it a little harder to do a bad thing.
You are missing what happens instead. There is just simply no web management interface on the device anymore. You need to download the vendors app to configure and use the device. Maybe, if the vendor cares, they use their own CA to secure a local connection to the device. Much more likely, the app and device exclusively talk to their cloud and use that as a middleman to exchange information.