The short version
Three systems resolve the category cleanly: Eight Sleep (premium + tracking + subscription), ChiliPad (subscription-free water), BedJet (subscription-free air, cheapest).
When Eight Sleep Pod 4 is the right pick
If you want integrated HRV and sleep tracking so you don't need a separate wearable, plus Autopilot climate scheduling — and you accept the ongoing subscription. The hardware-as-wearable model is unique in the category.
When ChiliPad Dock Pro is the right pick
If you already wear an Oura or Whoop and you want the same water-cooled climate without paying the Eight Sleep subscription. Roughly half the 3-year ownership cost of Eight Sleep with comparable climate hardware.
When BedJet 3 is the right pick
If you want the cheapest credible entry into active sleep-climate, you live in a mild-to-moderate climate, and you don't want to manage a water reservoir. The air-flow approach is enough for most users outside summer peaks — at roughly 1/6 the Eight Sleep 3-year total cost.