To be honest, I understand how sensitive people (not even fat, but maybe just an average amount of chubby/unhealthy and not just poor folks, but solidly middle or lower middle class e.g. not LifeTime or Equinox afforders but maybe LA Fitness or the other cheaper gym memberships) could get their feelings hurt by these and other ads (the aforementioned Lexus December to Remember, etc.) and they have the right to speak out, to boycott, to voice their hurt, etc.
I also think that luxury or aspiration companies who cater to a segmented, very defined demographic (e.g. certain wealth, lifestyle, luxury, etc.) should be able to target their demographic as they see fit as long as they aren't purposefully hurting or offending people and so I appreciate Peloton's non-apology apology. "I said what I said and if you don't get it, our product isn't for you and that's okay for all parties involved. Maybe it will be for you one day or maybe one day we will come out with a product for you and then the message will be different."