That is simply false. I'm fine with people making that claim about companies like Facebook and Google - they make most of their money selling advertising, so yes, in that sense, their users are a product they are offering to advertisers. But that's not how Garmin works.
Garmin provides products to us, and offers services that they hope will keep us in their ecosystem. Unless you have reasonable evidence that they are lying in their privacy polices, such as at https://www.garmin.com/en-US/privacy/connect/ , then you cannot reasonably make the claim you have made.