MAD10 -- I would actually really enjoy having this convo with you over an adult beverage sometime. You're correct, there are a bunch of never ending "what if's" especially as it relates to ecommerce as it's an continually developing marketplace.
That being said, I've been through this 3x times. In most cases, cutting out the middle man is highly influenced by CFO's and CEO's with no real relationship with the consumers or the resellers. In my case, I've been the guy sitting across the table from Cabelas, Walmart, Mom & Pops, Midway, Scheels, etc trying to explain corporate decisions....and it sucks bc its usually B.S.
Is it a crime...NO. And, in some cases, there is genuine reinvestment that happens. In others, it just means larger executive bonuses. Once the suppliers realize they can set the top of market pricepoints and control supply, other resellers chase price up just enough to stay just below the direct pricepoints based on supply availability vs chasing price down when they have lots of inventory and they are competing with other resellers (under normal market condition). IMO, consumers lose this battle.
I've loved this convo and I'll be interested to see how this affects the market going forward. For now, I still encourage everybody to build those local "Mom & Pop" dealer relationship and it will help you a ton when the "next" crisis hits....and it will hit.