My own impression for why the Amiga and every other machine of the era lost out to the IBM PC was that the PC was what virtually everyone used at work, so that's what they got at home.
Apple managed to grab the art/music creation and education markets, so managed to stay alive that way, while the rest of those early computers never really found their niche outside of games, for which the Amiga was arguably best suited to. The Amiga was an early power gaming machine and had the potential to grab the art/music making market from Apple, but few people other than techies really appreciated it or would make their computer purchasing decisions purely on that.
You could spec up an A2000, released at the same time as the 500, with SCSI HDD and the lovely long persistence paper hi res white monitor for less than a clone. In the UK all the marketing was for the 500, and offices filled with Tandons, Dells, Amstrads and so on.
Same problem happened again with CDTV (and Philips CD-I) inventing multimedia before anyone had the first idea what that was supposed to achieve.
And it was also what you were taught on at school. Even if the IBM PC advanced the standardization of personal computers, I feel it also set them back by a decade.
Well, a decade is exaggeration, but the design choices of the IBM PC shaped personal computing, and those choices were made by people who thought personal computers were for serious business.