From what i've heard it all boils down to:
Commodore bought the Amiga as being the ultimate video games machine which would generate some quick cash; a high risc pet project.
In that pespective, it's not hard to see why things went wrong from day one.
Other things to add to the list:
The release of the A500 in 1985 should have been followed up by some equivalent of the A1200 already in '88-89. Failure to do so meant a delay of advanced software to appear until it was too late. This may have been more significant than most people think. If the x86 hardware would suddenly halt for ten years while the PPC Macs evolved to 15-20GHz CPU speed... ...it's not the best way to attract software developers, is it?
In a sense one could even blame the success of the C64 for the death of the Amiga, since CBM thougt the Amiga would follow the previus pattern of success. One could even claim that the A1000 was released too soon, before the C64 had become outaged.
And then again, if CBM wasn't in financial troubles already after massive investments in x86 factorys then they may have allowed more frequent releases of Amiga hardware. Who knows?
Read the book: 1001 reasons why the Amiga died :-)