No, they listen to their lawyers.
This guy absolutely has a case. If a company advertises hardware with support for a critical function, in this case as an Apple Watch compatible gym equipment, then pulls the feature that tens of thousands, hundreds of thousands, maybe millions of people purchased a Peloton for, then at the very least they have to issue a recall and refund those customers, bankrupting the company finding money that's long gone, or worse, they're sued for compensation over and above the cost of each bike.
They figured it's best to just leave GymKit in there and probably not support it with any updates if Apple issues any. I don't trust Peloton and would never buy any of their equipment, that'll turn into an expensive clothes rack when they inevitably fold.