That dog doesn't hunt anymore.
What usually happens is that the employees or owners of the mom and pop stores become department store managers at Walmart in their specialized field. Also, there are higher-end, specialty stores that are built next to or in the area of Walmart as well.
I don’t know where you live - but your statement outright flies in the face of what I have witnessed with my own eyes and of those “mom and pop” folks who lost everything and no, they didn’t get jobs with WM.
Further - and again, this must be the case where you are - but here in rural Arkansas - “higher-end” specialty stores are not anywhere near Walmart.
So, sir, your dog don’t hunt.