This was also the time when Apple had failed to sell itself to Sun and Michael Dell famously said "What would I do? I'd shut it down and give the money back to the shareholders." (10 yrs later Apple was worth twice as much as Dell).
What no one saw is that Steve Jobs was returning from his personal diaspora with a new focus. But he knew it "Focusing is about saying no". (YouTube link) And this is why Apple has been such a great story. Like Neo returning from the dead in the Matrix, Aragorn returning from the Paths of the Dead, Luke Skywalker returning from Dagobah. What Joseph Campbell described as the Monomyth.
This is the path Steve Jobs has been on. Kicked out of Apple, years in the wilderness, and returned to lead what arguably is the most successful company in history.
When he came back he re-focused Apple.
The biggest change I see CEO Steve Jobs making is he returned Apple to what it was always supposed to be - a hardware company. While he was away Apple became mired in the OS wars. As the technology caught up with Steve he leapfrogged these arguments of the past and that is where I see his genius. To always be looking forward. To make Apple hugely popular but still innovative. To be appealing while having a mass appeal.
I do believe that his resignation as CEO but staying as Chairman of the Board is about Steve searching for a higher purpose at Apple. To finally let go of the details.
Because he has always been about the details and there is only so much mental energy you can devote to these things. When he announced he was resigning there were two anecdotes I read that, for me, capture what makes him so effective.
NPR: A Story About Steve Jobs And Attention To Detail
Business Insider: It Took Me 13 Years To Understand Steve Jobs
Fast Company has a long summary of these kinds of stories: The First Time I Met Steve Jobs...
Later, I asked him why he had seemed happier with the boy than with the two famous artists. His answer seemed unrehearsed to me: ‘Older people sit down and ask, “What is it?” but the boy asks, “What can I do with it?”
Other ways to understand who Steve Jobs is:
BI: Apple's Incredible Run Under Steve Jobs
Forbes: How Apple works: Inside the world's biggest startup: From Steve Jobs down to the janitor: How America's most successful - and most secretive - big company really operates.
Watch his 2005 Stanford University commencement speech
I look forward to the upcoming biography.