Yes, expensive walkable commerce centers will have reduced relevance, as fewer sales come from walk-in customers. Speaking as someone who took over a failing restaurant at a hippy commerce center, only to close it down after realizing the walk-in traffic is going down while rent is not.

As long as people desire such physical congregated commercial areas, they won't go away. But I'm not confident that people really want them, based on how they vote with their wallet and time.