Maybe a bit late to coment, but in the end two things killed Amiga.
1. Management - or rather mis-management - as has been touched on before. The technology was allowed to stand still, and then lack of finances forced C= to being to market the immature (and not really advanced) technologies in the AGA machines. And as for mass storage, well, C= could have made the CD market, even with the CDTV and Cd32, but not with the 1.3 interface. Risking a digression tho, 2.0/3.x I feel was a better "family" interface than Media Center is today, or a better framework for TV-friendly display than windows.
2. Apathy. Apathy on the side of software houses that developed for the lowest common denominator - a single drive 1/2mb A500. The platform was never pushed. It took years before 1mb games became common-place, when they should have been the norm.
In some ways the hardware was before its time, after all memory and hard disks were hideously expensive, but we could have done better. Heck, by 1990 PC's came with 1mb and a hard disk as standard. By 1992/3 when the 486 was entranched, C= could have competed in the PC market, using the Amiga had they made the base machine HD as standard, and pushed developers. Would it have worked? Well, the PC was proving it could play games, (Day of the Tentacle, X-wing, and Wing Commander for example) and had the added advantage that business software was available (Word Perfect and Supercalc) which was never really there for the Miggy... well it was, but look at the problem of trying to develop a WP to run on the base machine. Yeah, business software for PC came on floppy, but it was never epxected to seriously run from floppy!