Commodore didn't die from external forces, it was killed by the mismanagement and greed of upper management.
You may want to watch Dave Haynie's two-hour video on the last days of Commodore, The Deathbed Vigil (free, full version online at Google Video). The film sums up the steps leading to the demise of the company very well. It is both funny (the anecdotes), sad (the surreal atmosphere of the smashing up of keyboards at night and the burning of the Mehdi Ali doll), as well as informative.
The submitter's claims that the Amiga didn't become a blockbuster and that Commodore would have died as a consequence are just plain wrong, though. Perhaps it was less successful in the U.S. than in Europe (I obviously remember it from the European perspective). There was even Amiga UNIX (System V Release 4) and it was great, beating every other UNIX vendor to the market. Sun Microsystems hoped to sell it as their low-end platform, but as usual, Commodore management killed the deal. See the film linked above for some more details on this and other projects that were engineering successes, but destroyed by the clueless upper management. It's no coincidence the speed bumps in the Commodore parking lot were painted with their names at night, in secret.
C= Failure n. See: Greed