We used to have a local Schwinn store in town, I went in there a few times, but I don't think I ever walked out with anything.
Were there choices in the 70's and 80's?
I don't know; I never was in the market for a new bike at that time. Raleigh was mixed with quality.
Certainly there were a few other bikes. Dad got a Torpado. Mom ended up with a Motobecane, My brother had a Raleigh racing bike. I had a Viscount until it was stolen, and replaced it with a Colnago purchased in Italy. I had a friend in college that had a Vitus, I think.
I suppose I find that ad objectionable that Schwinn considered a 36 pound bike as "top of the line", and compared it to a 30 pound bike, when a better comparison might be to a 25 pound bike.
They did ok in their niche, but that was about it. The bikes were "solid", but not "quality".
As far as Bianchi, or Trek, I do think the Asian bikes that Bianchi-USA brings over the the USA cheapens the brand and is bad for their overall image. Likewise, Trek competing in the under $100 market also damages their brand.