IMHO, national chains (or at least regional chains) are going to be the future. They can leverage lower operating costs (by combining budgets and consolidating positions) and have a larger buying power for further discounts on stock. In theory, this leads to higher margins.

The two big things that Performance provided that other LBS's couldn't are:

1 - Competitive pricing. The Fuji bikes, especially with the semi-frequent 20% off sales were a lot better than what other LBS's were offering. If you were lucky and could stack a clearance price with one of those discounts, you could get some killer deals. I picked up a 2016 Fuji Tiagra Disc for $440 or so last fall. Yes, I was lucky with that purchase, however those deals did exist.

2 - Array of parts and tools. Most of the LBS's I've been to don't sell many tools for the DIY'er and only stock a handful of parts (cables, chains, pads, etc). Add in their "Spin Doctor" brand items, and I'd frequently pop-in for random tools and parts I needed at fair pricing.