Unfortunately, no. Ultimately it’s a tiny computer that happens to produce light when a certain gpio pin is enabled. The light bulb is the portion you see, but inside, it’s an internet-connected microcontroller. I’ve even seen smart devices that internally run a full Linux distro complete with a shell session you can access if you know what you’re doing.

The problem is that some of these firmwares and/or exploits for these firmwares actively scan your local network and report things. Further, they can be used as a jumping off point for attacks deeper in your network.