Online stores certainly have their appeal in terms of selection, cost, and ease of getting components reliably. However, just as displacing the local butcher, baker, etc. losing the independents has side effects. For one, I expect it's harder now for small hardware companies to break into distribution than before. Then, there are the fickle vagaries of what the supermarkets of chip happiness may or may not stock.
Take the MAX3280 - a great little SOT23 package that allows you to receive RS485 signals. One day Digikey carries it, the next time I tried to order it, it was out of stock, just like some Atmega chips. Yes, there are alternatives to Digikey (Mouser, Allied, and Newark come to mind) but they're limited.
Then, there is the loss of the local 'watering hole' where fellow enthusiasts can meet. I guess Maker Faires, Artists Asylums, etc. make up a bit for all that, but most of us congregate here for a reason.