I suppose that's always a risk but Peloton is in a strong financial position. They're highly unlikely to go out of business within the expected lifespan of a treadmill.
Currently performance is not a guarantee of long term outcomes, many companies have appeared to be in a strong financial position and then suddenly collapsed. As it is Peloton is currently running at a loss. You also have to factor in acquisitions, which occasionally have led to a loss of support for devices.