MF is getting tighter with the discounts, which means they're about to lose my business. Which is
A LOT! I'm pretty certain I spend more there than 75% of the population, and give them more free advertising here and on other websites than than they could possibly ever imagine. I also work in a HS and send kids and coworkers there all the time, and well... yeah. Anyhow, went to make a purchase last week and asked if they'd give the typical 15% off that I get emails for several times a year. They wouldn't do it. And I didn't buy.
I like MF, but the main thing that kept me coming back was the fact that I'd always get the best price there. If that is no longer the case I'm going to go back to my old friends americanmusical, as I get delivery the next day with them (they're warehouse is on the east coast), or sweetwater, as you get setups and great studio pix of you instruments along with your purchase

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FWIW - I don't know a whole lot about business, but I've seen businesses destroy themselves making changes like this. There was a club in Bklyn NY, many moons ago called Lamour. Any Brooklyn rocker over 40 is familiar with it. I was around when they made a transition from Disco (anyone remember Disco?), to Rock. They were open Tuesdays, and Thurs through Sat. If you went Tues you got free passes for Thurs. If you went Thurs, you got free passes for the weekend (and the following Tues if I remember correctly). They were very liberal with their free passes, yet still charged admission. They grew an empire. The place was packed, always, and I'm pretty sure they all got rich. Then they decided they were done with the free stuff, raised their admission... and well. Lamour closed. Not sure what those guys are all doing now, perhaps someone here knows, but I know they lost a whole lot of their business when they started making changes I'm sure they believed were going to benefit them.
Would a company rather have 1000 customers paying a 20% markup, or 100 paying 25%? If 20% beats out all the competition... I dunno. Again, I'm not a business guy so there's a good chance I'm missing something here. Allz I know is I'm going where I get the best buy, and/or the most for my purchase price. For a good solid 10 years that's been musiciansfriend. If it changes, so be it.