Pretty much. There's a shop here that has been in business for about 10 years that only sells boutique brands and just has a few demo models, you order the frame or entire bike, it comes to them and they build it up as you wish, then provide service and various items that you might want down the road. It's probably less than 1,000 sq ft.
I've always bought my frames online and built up my own bikes, since I prefer it that way. I can't see how anyone can any longer have a few hundred thousand dollars worth of bikes on the floor and still make it work, when you can buy direct for less. I think it will be even worse for ebikes, especially in this early period, since each new model year will bring new tech advances with motors and batteries, which will devalue older ebikes more than it would with a bike.
