I'm sorry to hear that about your LBS struggling.
I guess most of us are experiencing economic slowdowns now. Our work has decreased substantially this past couple of months as well.

I envision many bike shops changing their focus to survive- away from racing/road bikes and towards cheaper end commuter, hybrid, and mountain bikes.
Lots of people like riding mountain bikes on the road, their mtn bikes will never ever see any kind of mountain and I suspect they have them because they got them cheap.
There will inevitably be fewer roadies in lycra as people have less leisure time and less money for non-essentials. People will do less driving-somewhere-to-go-biking, and more going to the neighborhood store and/or going to work on their bikes, or just riding from home.

I see people buying much cheaper bikes and used bikes, and then having to get them serviced and repaired more.
There is a HUGE number of serviceable dusty bikes in peoples' garages just waiting to be put back into service. We are going to see legions of these old bikes back on the road.
Cheap new bikes, cheap old bikes, and bike repair will be the big thing.
You'll see fewer kids leaving their bikes lying out on their front lawn in the rain, because A)The bike will be stolen and therefore GONE... and B)Their parents won't just automatically buy them a new bike to replace it like they used to.

If people balk at a $40 tuneup and are not able or willing to learn to do it themselves, well they'll just ride that bike until something totally gives up, and then they'll have no choice but to get it tuned up and repaired or junk it. People are going to be balking at everything as money gets tighter. But a bike tune up still costs way less than a car tune up!
I think most new bikers who have not biked in years and are just coming back to it are still stuck in a 1980's mindset in terms of prices. But if they really are determined to ride their bikes now, they will quickly realize that yes the price of everything has changed since 1980.