Agreed, though I am not reliant on the Insteon company for anything but parts, since it's an entirely local protocol. And they're producing new parts again! I was also in a bit lucky of a position: I had plenty of spare hardware on hand while the company was shut down.
> IP seems the simplest option
If security is unimportant, sure. Insteon hardware has been around for three decades, but nobody in their right mind would be using network hardware from back then. This is a case of where complexity kills. Home hardware needs to work for decades.
> Plan when Insteon went belly up
I use their PLM interface which is just a COM port on my PC. The company's existence has no impact on my ability to connect it to newer things.