I had to google what Peloton was, and of all the nonsensical overprices scams Americans fall for, this has to be at least in the top five.
It is a good bike, very well made, high quality components. It uses magnetic resistance, so you don't end up needing to replace pads or end up with brake dust everywhere. Now as to "overpriced" scams... let's say the bike is worth ~ $1200, which seems reasonable comparing it to other bikes, the Bowflex bike is $1000 without a screen. You're paying ~ an extra $1000 + $39 / month subscription for the classes to be a part of "Peloton". Is that worth it? It all depends.
I purchased my Peloton in Feb 2020. I've taken 228 cycling classes since then. So I am averaging getting on that bike and riding every 2 days. Can you buy a $300 bike and ride it every 2 days? Sure!! But frankly, part of the reason I enjoy Peloton is the environment, the instructors, the features and functionality.
My resting HR is now in the low 60s. My Blood Pressure is 110 / 70. My doctor is ecstatic. Is Peloton the sole reason? I have no idea, but it has reduced the barrier to exercise to almost zero, and I have no excuses. It's fun, it's a great workout, there are more classes than I could do in my lifetime (assuming they keep churning them out). So is it a scam for me? Absolutely not. Is it in the top 5 scams? That is absurd.
Google the Molekule air purifier if you want a look at something that deserves to be on your top 5 scam list.