We have a Peloton (order version) and my wife loves it dearly. I put a pair of Favero Assioma look pedals on it and put look cleats on her shoes, that way she can do Peloton rides and I can use TrainerRoad on my tablet with accurate power data. Power readings on our Peloton are ~20% high - quite flattering, but grossly overstated.
Yes, you have to get a subscription to use the Peloton workouts. Otherwise it’s a basic stationary bike. The subscription comes with spin workouts, as well as a bunch of yoga, stretching, strength and meditation classes that are highly complementary to TR.
As a spin bike, it’s a fantastic product. It’s not a smart trainer, but for your use case it could work well. Certainly has for me.