I see articles written often about "the Internet of Things," and I agree with you: this is a term that, erm, "plebs" use to describe internet-connected devices (also known as computers). If your electronic device stores and processes data, it's a computer. I'm not sure what's so sure what's confusing about that.
Another problem I've seen is people wasting resources on pointless projects related to "the Internet of Things." I don't care if you can use a receipt printer from your iPhone, and anything trying to justify the practicality of such a thing is ridiculous.
I'm aware of a little something called "fun," but when people make fun expensive like so many projects related to "the Internet of Things," I can't help but think the money could've been much better spent. Instead of spending on your wristband-controlled Rube Goldberg machine, use the funds to give a kid a book on programming.