The fact that Trek and Specialized in particular are buying out LBS' at alarming rates (discussed in other thread here on EBR) says 2 things at least:
1. They see the need and/or value to remove the competition and complexity of small dealer agreements and support models.
2. They see the value in establishing high-overhead brick and mortar stores, despite the obvious risk in these times of increasing e-commerce.
They can potentially make more money and streamline shipping/service/warranty processes if they have corporate stores, and they can avoid all the training programs required to support LBS mechanics and constant upgrade training for technical advancements. They 'should' be able to improve service consistency (both sales and repair), but there is big risk associated with assuming that huge overhead and holding your own inventory. The big brands wouldn't be doing this if they thought the market would collapse, or their sales numbers would fall below sustainable levels. And this is in a highly seasonal industry in most of the world to boot.
And specific to ebikes, as North American cities increase in density, ebikes have increasing potential value to people. Just try and get a good residential parking spot in downtown Toronto or Vancouver! Those of us that live in bike-friendly cities ('warm' west coast here) see how bikes have been an institutional form of transportation for many, many years, and the heavy investment in expensive bike infrastructure is only drawing more people to it. I see a huge transition to ebikes happening amongst commuters here in Victoria BC, and since this is existing bikers changing from acoustic to electric as much as it is new riders joining the tribe, I think this is a safe bet. I'm a perfect example of someone who simply couldn't commute to work on my acoustic (40km round-trip), but i can on my electric.
I accept there is always a fad element to consumer trends, but bikes are bikes, and good ebikes are harder and harder to differentiate from ordinary bikes. It's not like scooters or Segway's that are more novel and trendy than practical. Bikes have been practical for a hundred years now...