C= found it really hard to keep up with the times and most of the models aside from A500 were essentially pointless. By the 90s there was nothing the Amiga could do that the IBM compatibles couldn't. Amiga lived fast and died young, but it's legacy won't be forgotten.
Commodore suffered from horrendous management after the departure of its founder, Jack Tramiel, in January 1984, though he bears some of the blame for the troubles that soon consumed Commodore. Marshall Smith, the first CEO after Tramiel, drove Commodore to the brink of bankruptcy by mid-1985, and although the next CEO, Thomas Rattigan, managed to turn things around, including releasing new Amiga models the 2000 and 500, he himself was fired in early 1987.
Engineers at Commodore developed new custom chips for a 2nd-generation Amiga that could have been released in 1989, but the management at the time nixed this idea. Instead, they developed an Amiga 3000 that was a workstation with a correspondingly high price and failed to do well even in that small market.
The next management decided that CD-ROMs would be the next big thing, but rather than release a 2nd-generation Amiga with a CD-ROM instead ordered the development of a TV-connecting device called the CDTV. This device combined 1st-generation Amiga chips with a CD-ROM but wasn't a computer and also wasn't a console, with a high price and little uses for it. Predictably, it failed miserably after its release in 1991.
Finally, Commodore did release two models of a 2nd-generation Amiga, the Amiga 4000 and Amiga 1200, in December 1992, more than seven years after the release of the original Amiga in September 1985. These 2nd-generation Amiga models had new custom graphics chips, a better processor, and more RAM, but lacked a new sound chip, a hard drive, or a CD-ROM. These 2nd-generation models were reasonably priced for what they were, but they were far from cutting edge even in graphics, and Amiga users moved on to IBM PC clones.
Commodore's last gasp was its first game console, the Amiga-based CD-32, released in Europe towards the end of 1993. It sold out quickly, but Commodore was in such desperate financial straits that it couldn't manufacture more, much less release it in the US, and Commodore went bankrupt in 1994.
With competent leadership, Commodore could easily have survived as the only competitor to the "Wintel" monopoly of IBM PC clones running Microsoft DOS/Windows.