On the second persons point, Commodore under Tramiel may have been 'for the masses' and targeted to sell lower cost to the consumer, but that did not translate to Commodore not making profit on the 64. They didnt make much profit per unit, but that translated to more units sold and more profit,
Commodore actually made a huge profit on the c64.
This was partly due to vertical integration and partly due to their production team doing whatever it took to ship every machine.
By 1989 commodore should have had something new. They milked it for far too long, something Jack wouldn't have.
It's not certain that Jack would have bought the Amiga if he'd stayed at Commodore though, the Z machine would have probably been released instead.