You look at something like Peloton and your natural instinct is to compare it to other equipment manufacturers, but that's wrong. Consumers aren't spending 50% more of Peloton because a Peloton bike/tred is 50% better than their nearest competitor. People are spending that money to be in the Peloton ecosystem. To work out with friends in Peloton.
So I say to people that Apple is Peloton's biggest competitor, and they look at me like I'm a moron. Because they see equipment and I see ecosystems. I believe fitness will be the next "social media" land rush, and most traditional equipment makers are unprepared (they're naively copying Peloton on features without really grasping what Peloton is building).
PS - Phase 1: Social Media Fitness, Phase 2: Gamification of Fitness (apps/games inc. achievements tied directly into equipment, like the "iPhone" of fitness equipment).