I haven't been in Walmart for about a month, but it was pretty bare in the fabric section (forgot what I was there for, but yeah I checked!). Our Joann stores are pretty bare. Our LQS, most of those were closed for at least some months and aren't so badly stocked for fabric, but their stock of thread and such is also down.
Still don't see packages of elastic anywhere. Notions are low. What stuff that comes in goes out pretty quickly, and they typically don't have any idea right now of what is coming or when. There are Containers of things filled with holiday (Memorial Day/4th) materials that are sitting/floating around and the fall stuff which should be stocked now hasn't come yet.
Most of the basics are pretty well stocked now, don't have quite the empty shelves and much fewer "limit one" buys, but when we go out it is "I hope to get whatever it is I want".
As for Sam and Mrs Sam, I don't think what Walmart is now is quite the vision of the Walmart he was building.