Apple is currently the only company in the fitness world that can afford to force hardware and software coupling. You are not Apple.

Peloton, which you compare yourself to, allows me to use my Life Fitness bike with their platform, and they even charge me about 70% less than they charge their own bike buyers.

Hopefully this will soon sink in, there is a huge market of people who already invested thousands in their workout gear, and all they need is your platform. Plus its always interesting to hear how usable the hardware is, if I stop paying or if your platform goes offline. Every company handles this a bit differently