Depends on what the vendor wants to do?! As long as it is connected to the local network, it isn’t “isolated” completely. Else it wouldn’t be IOT. But of course first victims are non-techni users who cannot isolate a little bit.
The difference between WLan-cards and IOT is the potential threat that is much higher for IOT. I’m little bit techni, but not so much that I can explain in detail. But if you want to know it in detail, you can visit media.ccc.de and search for IOT. The community around Chaos Computer Club hack these devices and report about what they found. videos are mostly in German and English.