This aspect still exits in some areas. Local bike stores are still running and have the same community feel. They are perhaps only around today because people who ride bikes a lot tend to not be the people who want to drive 20km to the nearest mega store.
Why are people creating a community at the local bike shop? I ride my bike to work everyday (or did). But I only went to the local bike shop to purchase a new bike about every five years and went in for parts a few times a year. What in the world are people doing that they are going there so frequently that a community can be built up?
Its probably not quite as good as what is being described with the book shop but if you ride frequently and especially on rough mtb trails then you will probably end up going to the store once a month for replacement parts / services / clothes / new gadgets. And while you are there its common to have a chat about whats going on / new developments in public trails / etc.