They’ve made a very poor choice of name – it’s fine to pick a word and trademark it and effectively say that nobody else can use that name for the same kind of thing (like Apple I guess), but it’s stupid to think you can commandeer all use of an existing word in the realm in which it’s most irrelevant.
If you call yourself Apple Computers then it’s fine to say “No, you can’t call another company ‘Apple PCs’ or a news show ‘The Apple Computer News Show'”, but if you were a fruit seller then you simply couldn’t say “Sorry, we’ve trademarked ‘Apple’ so you can’t have a magazine called ‘Apples Weekly'”. This is a bit like that, presumably some people just don’t get that ‘peloton’ is a well established and well known term within all of cycling, and to most people it has nothing to do with riding a spinbike in your front room!