Full disclosure: I went down to Carlsbad and rode Canyon bikes a few weekends ago. I rode a Grail, Aeroad and Endurace. All were great bikes. All put stupid smiles on my face. And yes, Canyon's business model allows them to price their bikes cheaper than comparably spec'd bikes from others who go the dealer route.
TL;DR - if your major consideration is "bang for buck" and you don't mind setting up and working on your own bikes (or paying for service), then my opinion is to go with the Canyon. They know what they're doing, they make great bikes, and the savings are real.
That said, I went with a Trek and Cannondale from my LBS (on Mem Day and 4th sales, so I bridged the price gap a bit) because I live within walking distance of the LBS, I've created a great relationship with them, and they've basically adjusted and tweaked my bikes free of charge and the manager always knocks 10-20% of accessories I buy. I am comfortable doing light maintenance on my bike for anything major, I wanted that relationship established with my LBS. But that's a choice that's highly individual to me.