This is why I would never invest too much into Smart Home. While my phone may be expected to last for a few years only, I don't want my house deprecated because of a takeover/bankruptcy of a company.
1) Go with a cloud service using products exclusively made by a single major company, like Google or Amazon. This is simpler to setup and maintain but more expensive.
2) Go with an open source solution, like Home Assistant. Cheaper option with more control but requires a lot of time to learn, setup and maintain.
Both options should be considered safe at this point.
Edit: added emphasis on "made by" since many were missing that nuance. Buying a single brand of HA from a single company should be considered safe.
I'm not talking about buying compatible devices made by other manufacturers, this API issue shows is that isn't safe.