The Z80 is still used today and was used in some popular video game machines. Compare the ability of the 6510 to the Z80 and you have your competition. If you are selling Commodore computers with a 6510 chip then your competitors know there is a market and anyone wanting to bring the competition can do so with a Z80 because it can do as much or more. The Z80's clock speed today is up to 50MHZ. The reason you can't speed up the 6502 is because it has multiple clocks so the Z80 would have won out if there was competition on power.
Both the Z80 and the 6502 (and derivatives like the 6510) were decent designs. The Z80 had higher clocks, but a lower instructions per clock. Overall a 4MHz Z80 and a 1-2MHz 6502 performed the same.
The problem was that for a long time, the 6502 stayed at 2MHz max, and additionally the C64 kept on using a 1MHz 6502. The Z80 got a B revision at 6MHz - not that it was used much.
Overall home computers in most of the 80s were in stasis - not continually improving. MOS could have done a new 6502 running at a higher speed, but they didn't for quite some time - and then they lost it all because companies started sourcing them from other sources who did put the work in to improve the design.
Note the C65 was meant to have an up-to ~8MHz 6502 derivative.