Well, yeah, but look how many businesses there are today and doing reasonably well. I think the biggest business killer in recent years has been the overbuilding of businesses. In my area, at one point any given strip mall has about 30% of its shops closed down. We just didn't need that many sandwich shops and coffee shops, drug stores, etc.
There was an article in the Wall Street Journal a few years ago that said in some locations up to 40% percent of businesses could close with NO impact on consumers in terms of proximity, price, or selection. 40%! That's like having a downtown and a backup downtown.
We had a rash of outdoor big box store closings some years ago. Well, it turns out that we really didn't need all those Gander Mountains and Sportsmans Guides and Dicks. There were more of them than there were McDonalds in my area, believe it or not.
The internet has also enabled a lot of niche stores to exist and thrive. I know a couple of guitar shops that do most of their business over the internet, but they have a store front too. Those businesses are really nice to have around here, and they could not be in business without the internet.
Some friends have a custom map business. They used to have two store fronts and sold all kinds of maps. They got tired of the rents and regulation and employee hassles, so they closed down the store fronts, and now they do their business only on the internet.