I am/did. Earned the first three badges and plan to get the fourth today as you just have to do an Pelothon class from this week.
All in all, I like the concept - it's fun to make fitness into a game. I think it would be better if the contests were organized more around groups that you have an affinity with like college Alumni, cities, etc. I was on the unstoppables and other than liking Alex Toussaint, I had no real connection so the tens of thousands of other team members.
Good idea but I think they can do better variations of it. It was cool that they got people to try new instructors and new activities. Helps to mix things up. I also think it's good to have people doing other exercises off the bike.