Yes. The Peloton 'model' reminds me of the gym model, at least in the UK.

You always get a bunch of people sign up in 'fat' January for 12 months. They go to the the gym for a few weeks and stop. But continue paying £50pm or whatever for the next 11 months.

Peloton feels similar in that people are made to want the shiny thing in the TV adverts, find that they don't have a room with a view to put the bike unlike the adverts, use it for a few weeks, and then have to see out their subscription. I'm sure Peloton's insider numbers probably show a slower drop off, but I'd bet it's still there.

There's probably a big intersection of those that have bought a Peloton bike as well as joined a gym but rarely used it.

The free alternative of course, is go outside and cycle or run.