It's an extremely small selection, compared to what it was in the early 90's (that I remember - and I remember older folks complaining about how far it had gone down hill even then).
There just is no store I can wander around these days (or series of stores) where I can visualize exactly what I need to build some project. For example I needed recently to put some electronics in a waterproof outdoor box, and cable it up nice with proper waterproof conduit.
For someone who has done that sort of thing 500 times for work, you know exactly what to order and what everything is called and how it will fit. For someone who never has I really miss just being able to go to a hobby/electronics store and actually see the components I'd need to put something together - usually modifying my plans in the process as I see what is available I never knew existed before.
This makes "making things" really hard for the beginner and removes a ton of spontaneous "lets just figure it out and get it done" type of projects - at least for me. There is no store to run back to to swap out that $1.50 component I bought the wrong part number of. Minutes/hours of latency to days at best.