My 2-cents on this as someone who owns a Peloton. Riding a bike is great but doing it for 30-60 minutes 5 times a week is a bit hard to do. We do most of our riding while our toddler naps. I certainly can't leave him alone at home to go bike. I don't live somewhere where it's safe to bike during the day, I certainly can't do it when visibility is anything less than stellar. Where I live is mostly flat, I can't get the type of workout riding outside that I can riding inside where I can more granularity control resistance.
This doesn't replace riding outdoors, it gives you a consistent, reproducible, and flexible way to work out on terms that you can more easily control.