I think it’s easy for people to dislike a hipsters product that cost $3000 and $40/mo for virtual spin classes. I think their out of control stock market story had something to do with it as well - darling overpriced IPO and all that. The bikes now start at $1500 and the stock has skidded steadily down.
I don’t understand why the Peloton app is $12/month but the subscription is $40/month if you bought their hardware. My sister does the $12/month and rides her own bike.