The impact that IoT technologies have on our everyday life is indisputable. Wearables, smart appliances, lighting, security controls, and others make our life simpler and more comfortable. For the sake of easy monitoring and administration, such devices are typically accompanied by smartphone apps, which are becoming increasingly popular, and sometimes are even required to operate the device. Nevertheless, the use of such apps may indirectly magnify the attack surface of the IoT device itself and expose the end-user to security and privacy breaches. Therefore, a key question arises: do these apps curtail their functionality to the minimum needed, and additionally, are they secure against known vulnerabilities and flaws? In seek of concrete answers to the aforesaid question, this work scrutinizes more than forty chart-topping Android official apps belonging to six diverse mainstream categories of IoT devices. We attentively analyse each app statically, and almost half of them dynamically, after pairing them with real-life IoT devices. The results collected span several axes, namely sensitive permissions, misconfigurations, weaknesses, vulnerabilities, and other issues, including trackers, manifest data, shared software, and more. The short answer to the posed question is that the majority of such apps still remain susceptible to a range of security and privacy issues, which in turn, and at least to a significant degree, reflects the general proclivity in this ecosystem.