I live in Manhattan and walk past Soul Cycle everyday on the way to my "discount" gym and see about 5 cabs pull up when it's time for classes. In all the time I've walked past I don't think I've seen a single physique I've actually been impressed by.
Not only do you have to pay for the classes it also seems borderline mandatory you outfit a while wardrobe of their dumb clothes to let everyone know how you live the fit lifestyle since they couldn't tell otherwise
Equinox is also ridiculous at about $200/mo minimum