IoT has no definition. Some people put the WiFi infrastructure down as IoT. Others call a hard-wired non-Internet-connected traffic sensor grid IoT.
IoT is a scam, but it's also real. So it's impossible to determine the use, until we shut down the scammers and get the real uses in the forefront.
The city is terrible at things like R&D.
So someone comes in and says "give me $10B and I'll save you $100B." The city says "giving you $10B is too much, how about $5M for a proof of concept?" The guy takes the $10M does just enough to prevent being hunted for fraud for the rest of his life, and lets it all fail. Then blames the city, and moves on to the next.
These scams have been around for years. Whether with musical instruments or monorails. IoT is just the newest version of scamming the ignorant.