This was my take away as well. "Shame" in this case is defined as independent retailers with "low quality goods." In this case, it appears that "low quality" is synonymous with anything not Mainstream Luxury.

Beyond that, this is the reality of how modern mall development works. Mall properties are basically ephemeral pump and dump real estate schemes. When the anchors move out to the latest highly subsidized mall with bigger and better TI incentives, little guys move in. Some of them are garbage, but many are not. Sometimes the mall makes it, sometimes it doesn't. Nothing new or special here.