"We're not [publishing MAU numbers], but I can tell you a couple of tidbits. We've had over 3 million accounts created on the platform. We recently peaked around, I think 45,000 simultaneous users, but hundreds of thousands of customers are using Zwift on a daily basis."
So they definitely don't have 2.5 million users. Maybe they'll get there though!
(source: https://www.forbes.com/sites/robreed/2021/02/17/do-you-even-...)
This is simply not true. Perhaps you do not know those people but there are plenty of Texans using Zwift.
As for market cap - I own and use many old things. As long as they work why would I give a flying fuck about market cap of the companies that had made those. They might not even be (like my treadmill) in business anymore.