Yeah if your secret sauce is a chip, with very particular timing and memory behaviour... you've just built in obsolescence. There's no abstracted API for doing the fancy graphics (at least not one used by games, etc), and the whole system is built around sharing the memory bus between CPU and VDP (not going to fly once memory & bus speeds became a fraction of the CPU speed and once cache was a serious thing)... it's…
If they had been smarter with money, I'm sure they could have innovated in many many ways without giving up on backwards compatilibity. Sony put a PS1 inside the PS2. The Sony MSX2 contained an MSX1-on-a-chip.
Amiga could easily have had a PCI bus for external video chips.
And I'm not even going into the more crazy PS3-like ideas like "so, memory and bus speed are just a fraction of CPU speed? Ok, here are 32 parallel CPUs with their own chunk of the VDP bandwidth and their own local memory".