I don’t think Virginia’s idea of a Barnes and Noble book warehouse/membership house would work. Sounds like a library to me. But it is a good question whether B & N can survive. Smaller stores might be a better idea. If they go under, my guess is the indie bookstores that have managed to stay afloat will still be around and can fill in the gap.
I am no fan of B & N since they make it very difficult (if not impossible) for indie authors to put their books in their stores (unlike the sadly defunct Borders), but I do buy from them on occasion.
As with most things, time, and the pocket book, will tell.