What are the long term prospects of a company like peloton? It's a bike + an iPad. Both components are commodities, and the price-insensitive segment of the market is too small to sustain a big business.

It's easy to hate on management, but the business doesn't make sense and management can't fix that. Peleton was going to crash from the covid-fueled mania, and it was going to crash hard. Inevitable.