There is a ton of crossover. Unsurprisingly, I see quite a few serious Peloton riders who "graduate" to direct-drive trainers and zwift or whatever, but I see just as many who try it and come back, or who migrate from that world TO the peloton.

In particular, I hear a lot of complaints about Zwift getting really boring. I'm not a gamer, but as a Peloton rider, I find the gamification aspect kind of appealing. I like the idea of visually racing someone on the screen, I'm competitive. It's the most appealing part of the platform. Changing gears and attaching my bike to the thing and finding room for it, and getting all teh sensors sorted is definitely NOT the appealing part.