This is one methoed that physical objects are able to “make the jump”, so to speak, to the online world, so anything with the right kind of hardware like your baseball cap or even pet dog can be connected to the Internet eventually.
If this starts to catch on in a big way, expect questions such as privacy issues to start arising, as the lines between what is public and private becomes blurred. I would say it is better to have some sort of disclosure being made known first of a particular product to consumers so that they can make a more educated purchase decision before getting their locations disclosed without knowing any better.