A lot of this I don't buy. Someone who wasn't "a money guy" wouldn't have been so nouveau riche rap star "baller" about showing off Italian sports cars and jet planes. They had enough money to hire engineers to do the conversion and, if necessary, re-brute force the development of a PAL compatible version. They didn't. The rest seems like excuses. By his own description, his development process was more about being persistent than clever. That's actually the sort of thing that's easier for someone else to replicate, quicker.
The only thing the "chipset" actually provided was the genlockable character generation and scrolling text. It didn't do the DVE effects to the video itself. Amiga titling was generally better than the options available from PC, Mac and IIGS solutions. Of course that's not insignificant but even at double the price for a non-Amiga solution you'd still be looking at a significantly lower cost than just a professional, standalone character generator and those folks were used to paying more for their toys in any case.
A Truevision AT/Vista board was $3795 and that was mostly a paintbox and simple display buffer solution without the ability to process live video or playback the kind of animation that you got with the Toaster4000. It was a much better paintbox for sure than anything on the Amiga but that's just to illustrate the kind of pricing NewTek was competing with for much narrower focused devices. Double their Amiga prices would have still been a bargain. There wasn't anything "impossible" going on, as this was always religious hyperbole and folklore. The real question in the context of non-Amiga solutions was whether or not it could be done at the same price as an Amiga solution.
The info later in the post, talking about waiting for processors to get faster, etc. is obviously related more to being able to process the DVE effects on the host computer, take the video in, transform it, animate it, and then push it out. The Amiga VT didn't do that, there was an onboard DVE processor that did this, crudely in the first version and with a bit more polish in the VT4000 (ie. antialiasing). Having a software based DVE where the board itself is just handling the high speed video i/o from multiple sources is an entirely different beast than what the VT was and there's never been an Amiga that could have handled that sort of business with even standard definition video, I'm sorry.
The real story is they were loyal to the Amiga, beyond it's death until they had no alternative for continued survival.