This might all be true, but it's independent of waning demand and overinflated share price that tanked (why CNBC really cares). The real story is even good prod

This might all be true, but it's independent of waning demand and overinflated share price that tanked (why CNBC really cares). The real story is even good products can reach saturation. It will probably happen to even iPhone. If you take a step back and look at any business as a growth machine, you have to ask where the growth is going to be. You can say they are a better software company or content company, but that really only extends them into a hyper competitive space. There is an infinite amount of choice with software. It really boils down to the hardware + software combination that gives them unique value in the market. The trouble is a single purpose product with a single purpose subscription is very tough. You need a really strong use case. Kindle unlimited has "reading" as a use case. XBox game pass has "pc gaming" as a use case. These are all pretty substantial use cases. Probably bigger than biking indoors. And yet, even those subs are going to have a long and slow growth curve over their existing bases. EDIT: I mean saturation in the context of pull forward demand due to covid. Not saturation in that people will stop buying. There is always upgrade cycles.