We've got a Life Fitness spin bike that DH bought in the days pre-Peloton. During the first lockdown, my health insurance provided 6 months of free Peloton app access, and I was hooked. I'd never really liked the bike previously, but now really enjoy the classes. I've kept the app on (£13 per month), and use it pretty regularly. I use the bike, the treadmill (we've got one at home too), weights, yoga, Pilates, outdoor running...I'd say I'm getting my money's worth!
If we didn't have the bike, and were in the market for one, I could be tempted by the Peloton bike, it's a lovely bit of kit, and I love the metrics (I've used one a few times at showrooms and hotels), but the cost would be quite hard to swallow, plus the large difference in the monthly cost (£39) vs the app (£13).
The media seems to love reporting on Peloton's problems, but I'd also be concerned with how the bike could be used if Peloton ultimately didn't survive, or became too expensive. At least a generic spinbike can work across different platforms.
I love their content and instructors though, and tend to pick instructors based on what level of motivation I need that day!