There are a couple more benefits to this smart plug. First ad perhaps most important, it supports OTA upgrades to the firmware. If some vulnerability is found in the existing firmware, TP-Link can provide an upgrade. Unfortunately this is not automatic. The user must go into the Kasa app and request upgrades.
A second benefit is that there is Python code that can be found on Github that communicates directly with the HS100/HS110. Hackers can program their own solutions which use this device. Another benefit is that if the cloud presence gets shut down, the device can still be used.
One drawback is the seeming bugginess of the Kasa app. I tried to rename one of my devices and got a diagnostic that states "Setting name failed. Account is not binded to this device." This is puzzling as the device otherwise behaves properly.