Good overview, and makes a lot of sense.
Family Video was sort of the downscale/small-town pre-Redbox version of Blockbuster. I interviewed for the digital marketing director job at their HQ here. They told me during the interview that they did not see themselves as an entertainment delivery vehicle. Their core business model was real estate acquisition and management. They would buy the land to build the store on and use the revenue from renting videos to pay the mortgage and get free and clear on it. Then, were the rental business to go upside down somehow, they would still be sitting on nine figures worth of land and buildings they could rent out to other chains like pizza and fast food and still be a going concern.
I didn't end up working for them. Three reasons: (1) the idea of the video business going upside down suggested to me I wouldn't be there long even if i wanted to be, since that's what they wanted me to manage the digital marketing for; (2) they told me they run their business "like a family", complete with paternalistic aspects like funding college educations for some employees' children. Sounds good, right? I see that as a huge red flag—I wouldn't want to work for a family where such paternalism obligates me to them beyond my job, and where work culture is malleable and subject to owner fiat, and where I'm expected to let things slide as you are expected to with family members; and (3) I got an offer for a better job for more money with a major company before I could get the offer from FV, anyway.