Yes, probably, but getting setup on Zwift/TrainerRoad/SmartTrainer is a more complex experience, and the class aspect isn't the same.
You've got to set up your bike, pair your Bluetooth accessories and get the app running. Something that often takes a few tries on my setup.
Additionally, now that it's summer and my bike lives in the garage, there are times when I would have gotten in a workout on Zwift, but I didn't want to deal with the hassle of bringing my bike in and setting it up again.
Nevermind the cost. By the time you've got a wheel-off smart trainer, HR sensor and cadence meter, plus some kind of stand for your iPad or laptop, you're probably pretty close to the price of a Peloton.
Right now, the market seems to be pretty divided, where cyclists looking to train indoors are gravitating towards Zwift/Smart Trainers, while people looking for spin classes at home, or just an easy at home cardio workout are gravitating towards Peloton.
I'm not likely to switch platforms, but I definitely understand the unique appeal of the Peloton.