I've never used peloton but I would be very surprised if any of the mid-top end direct drive smart trainers weren't vastly better than an exercise bike. They also use magnetic resistance up to 2000w in some cases with seamless transitioning. There is nothing apart from greed that stops peloton from offering their classes to anyone with a smart trainer. You get all those stats on an ipad/laptop/phone with other smart trainers and according to reviews the power readings are not very accurate on a peloton bike. Really seems like a win for marketing over reality.