After the sad bankruptcy spiral and eventual shutdown of Commodore the trademarks ended up in the possession of a company based in the Netherlands called Tulip Computers (Now Nedfield) who makes commodity PC workstations. The did a little cheapo licensing of the brand here and there but basically showed no intention of breathing life into the brand again.
Mr. Altman appears to have incorporated Commodore USA with the sole purpose of attaining trademark licenses and attempting to tap into the large and very latent Commodore enthusiast market.
It doesn't feel like he's going to succeed. But I applaud him for trying. Now that Steve Jobs' face has taken the place of Big Brother in that 1984 ad, it feels to me that the landscape needs a new "creative computing" competitor. The Commodore brand could be such a cool fit, if they only had a decent product.
They should reproduce the 4000 / Video Toaster combo: http://www.youtube.com/watch?v=nymVNhy4dw8