I think a big part of the pitch of this thing is that it's ultra-easy to install, even in places where you can't change the electrical stuff.
If the wifi stuff was in the switch, you'd have to turn off the electricity, unscrew the faceplate, unwire the current switch, take it out, wire in the new switch, fix it in place, screw on the faceplate. Then, unscrew the current bulb and screw in the LED one. And if you move, you'd have to do it all over again.
This thing, you just unscrew the current bulb and screw in the new one and you're done.
That would also likely undo the color adjustment features (or make them really hard to implement). I'm probably most excited about that part if it works well.
It looks like their goal is to make the entire project "electrician-free". Replacing a light switch is still intimidating for a large number of people.
