This has magnetic resistance, the $300 ones have friction resistance. My old spin bike was a well reviewed budget model with friction resistance, however it developed a weird and very loud vibration in the friction mechanism which I couldn't fix. My choices were to use the bike at very low levels or throw it away.
So yeah currently I'm shopping around for a bike trainer since I think it gonna work best for me
However, out of curiosity, is magnetic resistance more reliable long term?