I don't have an actual opinion just yet, but I ordered the Schwinn ic4 a few weeks ago {shipping is estimated to be 60+ days from Schwinn directly but it is available other places}. It's $800 instead of the two you mentioned - I think the Echelon does have their lowest model priced about the same though. It's is designed to work with the Peloton app and a couple of others. I thought about buying a Schwinn last year but never did and with spin classes being cancelled for a while now, and possibly being shut down again this upcoming fall/winter I wanted some way to exercise so I caved.

My gym spin classes are on the Schwinn professional version bikes and they're fine with me so it seems like solid enough brand. I can buy the ic4, an iPad, and still save 50% off the Peloton so it seems like it's a much better deal. Plus, I don't think either bike is particularly nice looking, so it's not like aesthetics will be better with one for me.

The IC4 is made to work with 3 apps. It seems like you can use Peloton, Zwift {?} and one made by Schwinn. There are also a bunch of cycling workout videos and scenery videos on youtube. If you don't need a simulation of a class, they could help with the boredom and are free. I'll probably try out the Peloton app for the 3 free months if it's still available when my bike comes and then move to a free app or youtube - although to be honest, I'll probably just watch movies.

/r/xxfitness has had some conversations about this recently I think, and the peloton sub has had conversations as well. I know people mention the Schwinn water bottle holder is placed so a larger bottle hits their knee, so maybe take a browse around those subs to see what people are saying?