Every product link in this announcement being a 404 is the quality I've come to expect from Fitbit.
(Now on my fourth Flex in just under a year, with the first three dying in precisely the same way. Fitbit replaced them all under warranty, so I can't fault them there. But I'd prefer if they lasted more than a few months.)
Is it common to use bit.ly links when linking to your products off your own press release? I understand that bit.ly offers link analytics but I can't imagine they offer something that you couldn't do in house that offsets the loss of branding by not advertising with your own domain.
It is common on third-party sites, but not on the same domain. It's often just PR and marketing people who don't know they have better options for tracking. Some do know better, but can't get access to the data they need (for various bad reasons).
(Now on my fourth Flex in just under a year, with the first three dying in precisely the same way. Fitbit replaced them all under warranty, so I can't fault them there. But I'd prefer if they lasted more than a few months.)