Sure, but at a fraction of the price too. $500 compares to $2,000 at least.
In 1992 you could get a 486dx 33MHz with 4MB for like $800 (a two year old chip) with similar peripherals. Way more than double the power for a marginal increase in cost.
The Pentium arrived a year later in 1993 and by 1994 we had the 486dx4/100MHz and Pentium/586 at similar clock speeds. This is around when doom arrived and Amiga was long since toast.