If you really think about it, Ramsay left to be a Vlogger, not necessarily with the intention of being an independent magic store.
Guys like Alex Pandrea, Jay Sankey, Daniel Madison, and Xavior Spade really have that sort of personality-cult-as-magic-store thing going for them. Oh and Ollie Mealing has been blowing up with his "Mealing Membership" IG thing.
While I have a different perspective on this than most on these forums (due to being on the back end of the magic industry), I think what it really comes down to is that there have been too many people putting out too many mediocre products, and there's too many YouTube reveal videos, to sustain what the magic industry was even only a few years ago.
The bulk of people buying stuff from magic stores are casual performers. Nothing wrong with that, but casual performers don't tend to have the same amount of value perception that serious performers have. So they think anything over $5 is expensive, regardless of what goes into it on the back end to create the product. Part of this is just not understanding where the value of a magic product is, and part of it is (I believe) that YouTube sets the value of magic creations at $0.
So it's harder to make good money through established stores, but putting up a web site with streaming video and/or downloads isn't very difficult. Sell everything as one's own interpretation of whatever, and build a following. Steady money, don't get called out if you 'accidentally' recreate someone else's work, etc.
What I think is interesting, if you think about it, this is kind of going back to the way magic was taught years ago - getting a mentor to teach you directly. While this is obviously not quite the same as the Master/Apprentice scenario that once existed, it's kind of the modern equivalent.
Personally I'll stick with books, but I am finding the development intriguing.