Why not? If Apple buys Peloton, they also get all their staff and offices. The existing staff can continue working on their existing products just as before, while transitioning to Apple, no?
To put it another way: why should Apple buy Peloton? Apple itself is already a premium brand with huge awareness, so a buy for brand reasons isn't that persuasive. Peloton has a whole range of hardware but none of it is compatible with existing Apple hardware, so integration might be a drag.