£40/month is worth it. The quality of the classes is impeccable. It's like they've been produced with TV budgets! This price does also include the digital membership which has yoga, boxing and loads of other type of workouts.
The bike (Bike+) is expensive but it's a solid piece of kit and does come with a 24 inch (Android) tablet.
Edit: Forgot to say, the £40/month is per bike, not per member. So you can have your entire family using the bike for the £40/month.