There was nothing at the time in the PC world that could outperform the AAA chipset. Have a look at the Tseng Labs and S3 chipsets that dominated the market at the time. They were utter crap - let alone the fact that they could not scroll graphics or display a 15kHz signal...
The same goes for the sound capabilities of mainstream PCs of the same age.
The AAA was the right thing for the time and you should keep in mind that Haynie & Co were thinking of the PCI as the future Amiga bus architecture - but that would be of real use in the next generation (after the AAA) given the availability of decent VGA cards and the increasing cost of custom-made chipsets.