The fact you called it a stationary bike is kind of telling.
There's two kinds of people:
People who actually know what equivalents to Peloton hardware cost
... and people who think the hardware is overpriced
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Powered slatted treadmills started at around $15,000 when the original Tread launched at $4,000
Spin bikes can be $200... they can also be well over $2000, and the Peloton has more in with the over $2,000 models than the $200 Alibaba special.