It wasn't the unique experience IMO. I think people went to Arcades to see the latest graphics and also play games on the cheap. The trouble was the move to 3D made the Arcade boards so expensive and games were costing at least a pound a go and the jump in gfx just couldn't keep ahead of the consoles. The need to go to Arcades just wasn't there and if you played just a couple of games you were £2 or more quid down in a matter of minutes I think those were the real issues that helped spell the end.
I remember travelling miles and miles when I heard an Arcade had Full size F355 system, it was such an amazing experience. Its a shame SEGA treated Yu in such a bad way (the man who made SEGA really)
. I think GOD got one more awesome racer left in him
Speaking of SEGA I so wish SEGA would wake up and bring their ace Lightgun games to SONY's VR2