I am not familiar with the economics of independent bicycle shops. I don't know what proportion of their business is made of sales of complete bikes, components and service. I'd be surprised if the industry were decimated by aggressive component pricing. There will always be, I assume, the local road racing team and other niches. I also find that in our city, one can find a couple of bike coops and large sporting goods stores providing repair and tune up services.

At the other end of the spectrum, Surly prohibits online sales of their bikes/frames, arguably to support their network of retailers. Not sure this is in their best interest. Almost convinced this is not in my best interest.