Since folks love to play "what if?" around here, if Jobs had not returned to Apple, would it have collapsed like Commodore?
I don't think I've spent a penny on a single thing Apple produced.
Apple was doomed in the mid 1990s. Even with the iMac's designer working hard, I don't think there was that "spark" that Jobs brought (note: I think Jobs was a horrible person, but that's for another time). The two saving events for Apple were Jobs' return and Microsoft's huge infusion of cash.
As I often say, Apple is still alive because Microsoft decided to let them live.