Schwinn's position in the market has changed over the years.
From the 1930s through the 1970s they basically made the same thing: heavy as hell bikes that would stand up to pretty much anything. They also had the "Paramount" line of fine handmade frames, but the vast vast vast majority were what I call "Gaspipinentals". When ten speeds first came out, Schwinn created the Varsity. It still used the same gas pipe frame style, but it had ten speeds and a dropped handlebar, so it was well ahead of the balloon tire tractors. Because Schwinn was such a well known American name, the Varsity sold like hotcakes even though by modern standards it was a real pig.
In the 1970s, the bike-boom ten speeds from Europe and Japan started showing Americans what an actual lightweight bicycle was (what, you mean it's possible to have a durable bike that weighs less than 40 pounds???) and Schwinn introduced some actual lugged and brazed frame bicycles with aluminum components, as for example the Le Tour which was a decent bike. But by that time the connection of Schwinn with heavy unresponsive bikes with crappy steel components like the dreaded Huret Allvit derailleur, was ingrained, and serious American customers went for Fuji and Peugeot and Miyata and Raleigh and Gitane and Frejus and Takara. And it's about this time that American companies like Trek and Specialized started making high quality lightweight bicycles as well. At that time, too, Schwinns were rarely sold in all-makes bike shops, they typically had their own dealerships, which were often combined with lawnmower stores. So if you wanted a serious bicycle were you more likely, in 1977, to go to University Cycle where they would have Raleigh Professional, Alan, Mercian, and Hetchins along with the more quotidian offerings from Trek, Gitane, etc.; or would you be more likely to go to Scott's Lawn Mower and Schwinn Bicycle Shop?
In the 80s Schwinn promoted the Paramount much more heavily (and it was a damn good bike) and introduced a number of good mid priced bikes with butted lugged brazed frames and good Shimano or Sun Tour components, but the image damage was largely done.
I lost sight of the bike market after about 1990 but apparently Schwinn are now owned by a big overseas conglomerate and focus on department store bicycles. They probably still make a couple decent models, but amongst serious cyclists Schwinn is not even on the radar.