Cook bacon in a heavy medium saucepan over medium heat, stirring occasionally, until browned and crisp. Transfer with a slotted spoon to paper towels to drain and reserve fat in pan.
Cook shallot with 1/4 teaspoon kosher salt in fat in pan over medium heat, stirring occasionally, until softened. Add wine and boil over high heat, stirring and scraping up brown bits, until reduced by half, about 3 minutes. Stir in potatoes, 1/2 cup water and 1/2 teaspoon kosher salt and simmer, uncovered, stirring occasionally, until liquid is reduced by 3/4 and thickened, about 10 minutes.
Meanwhile puree 1 cup corn with 1 tablespoon water in a blender. Force through a fine-mesh sieve into a bowl, pressing hard on and then discarding solids.
Add remaining 3 cups corn kernels to potato mixture along with paprika, thyme, remaining 3/4 cup water and remaining 1/4 teaspoon kosher salt and simmer, partially covered, stirring occasionally, until corn and potatoes are tender and most of liquid is evaporated, 10-12 minutes.
Remove from heat and stir in tomatoes, corn liquid, 1/4 teaspoon pepper and kosher salt to taste. Serve sprinkled with bacon.