Exactly–local processing should remove the schedule problems caused by having to go to the cloud. (whether it will introduce new schedule problems, remains to be seen, and it will depend in large part on the capacity of the local device). This was mentioned by the CTO of SmartThings in the followung recent post:
The big unknown from hub two is the announced inclusion of a Bluetooth antenna. We still don’t know what that will be used for. While it’s true that Apple’s homekit is going to use Bluetooth and Wi-Fi in a bridge and tunnels topology, just having a Bluetooth antenna doesn’t mean that smartthings will be able to participate in the homekit ecosystem. It’s interesting that Samsung’s new smart bulb uses Bluetooth mesh, so ST might be getting ready for that. But who knows?