I wonder if this is less to do Apple watch and more to do with Apple's Fitness+. It is a cheap alternative to Peloton with nice happy people and high production quality. Likely not as good as Peloton, but will squeeze out a lot of the more casual users. From a later comment on going to war with Apple it doesn't seem to be a good strategy. The games of hardware compatibility are frustrating and limiting to the whole industry. But monopolies don't seem to do much better either.