Most people that would buy this would also take a class at Flywheel/Barry’s Bootcamp/Rumble/Soulcycle/F45 which come out to $25-$35 per class depending on package and region. If you want to work out 2x per week you’re at $200-$300 per month. (I know folks in SF for example that take more than 2 classes per week and sometimes more than 2 classes in a single day.)
Compared to that a peloton is really cheap. And you don’t have to deal with going to the studio and finding a time slot that isn’t booked and works with your schedule.
I know quite a few coastal elites that definitely pay the premium for these group workout classes.
Anecdotal, but that is the target audience.