[stevengraham]

I'd agree with the general tone of a few others here. IMO Peloton and Zwift cater to two different groups although there is some overlap between them.

Peloton caters more to general fitness types with a "spin class" approach using "instructors" and their slick hardware and ecosystem. It's probably a better choice for people who aren't cyclists.

Zwift caters more to dedicated cyclists who typically use Zwift to augment their outdoor training routines with indoor time (avoiding weather and timing/safety issues etc). Cyclists use their own bikes since they're fit for the rider, with their own (more accurate) power meters, etc. Zwift also considers weight, bike aerodynamics, etc. in sort of a "gamified" virtual representation of cycling.

TLDR; Peloton is a group of people riding Peloton machines in "virtual spin class" while Zwift is a group of people riding their own bikes indoors, most who also ride outdoors on Strava.