I think that brand loyalty has certainly shifted, but is far from dead. People used to use brands as a denotation of
quality, because they lacked information whereas now they tend to be used to denote
status (because they lack other signaling methods?).
It's easy nowadays to look up the Amazon reviews instead of just buying something with Harman Kardon on the side, but people still shell out tons of money for Prada shoes. (I think this partially applies to Apple, but not completely because apple products tend to have a large user experience advantage.)