There are many contributing factors towards Commodores demise - no one reason - see the wikipediia article if you're that interested. One mans' opinion based on the following:
In 1991 I bought an Amiga 1200 -on the way added a 1230 50Mhz accelerator & 8MB of RAM and in later a 56k modem, 4GB hard drive and 8xSCSII CD-ROM.
In 1997 I bought my first of dozens of PC's, for my fathers business, a 486DX2 with 4MB of RAM * Windows for Workgroups 3.11 and later a Pentium 166Mhz Pentium Pro running Windows 95.
I mostly ran productivity software on both architectures and played lots of games on both too. I learned to program and understand shells and CLIs and AREXX scripting language. It just seemed to be simple and obvious on an Amiga. I never had to create DOS boot-disks or mess about with HIMEM or mounting CD-ROMs or limiting my save file names to less than seven characters and all the other foibles of a Window/DOS based system.
It wasn't perfect. Amigas had no system memory protection. The accelerators could overheat. Fewer and fewer users meant less software, less hardware, file compatibility issues (couldn't create Word documents on an Amiga, although there were even ways around that).
However I can honestly say that the PC experience didn't even come close - until I built a PC with an Athlon Thunderbird running at 1.4GHz, and was running Windows XP with 1GB of RAM. That brought a level of snapiness and speed to the overall PC experience which approached that of my Amiga. A level of stability (far fewer BSOD screens) on a par with my Amiga. And extensibility (USB, DVD-ROMs, networking) which came more easily than on an Amiga.
Experience is a very personal thing. How we define how good something is will always depend on our own point of view. For me, the Amiga was a time saver, an elegantly designed, powerful system, easy to learn, easy to love. And at a time when it was half the price (and so called "power") of PC's running other operating systems.
I don't think we shall see it's kind again.