The least a chunky mode would have done, was give us non dithered 3D. Most amiga flat shaded 3D games were in 16 (4bp) colours to keep the frame rate up. I think even without VRAM, we could have had 32 colour 3D.
@PSXPhil
"It is theoretical, but the only way that commodore could have succeeded would have been to head off the move to PC and console gaming."
The Amiga was in a dangerous place, between the PC and the consoles. It was also an ideal place- It could have replaced both, it did for me, for a long time. Over time, consoles have become more PC like (films, music,facebook, browsing etc)
And many PC's have attempted to become more console like (shuttle, XBMC etc).
In away, both have become more Amiga like.
The PC sounded like a jet engine, cost a lot, and came in this massive 1970's style case, not living room, or child bedroom friendly.
The consoles were lobotomized computers.
There was still a big gap for an amiga style computer.