I am wary of Thread/Chip etc.
What I see happening there is that these new super architecture protocols will become bloated and complicated fast. They will add security layers and encryption layers which are not completely transparent like Zigbee, but will facilitate device "lock in", deliberate incompatibilty outside of brand eco-systems and putting the bar to "hobby entry" extremely high.
To me it doesn't make sense for Google, Amazon et. al. to even tolerate Home Assistant existing. If they are building protocols for the future of home automation, I'm fairly sure that any compatibility with the wider world will be "begrudged" and often avoided.
The same happened with the Zigbee alliance. Before the ink was dry on the agreements, Philips added proprietary extensions for Hue. Not "illegal" but not in the spirit.
The solution needs to be a community driven effort, not heavily funded by the large corporates, but everyone is still happy playing with Zigbee, RF and Wifi to care.