I actually wound up getting the TurboGrafx-16 because at the store I bought it, it was cheaper than the Genesis. My Dad and I brought the Genesis up to the counter, and it rang up at like $230 or something. My Dad asked if I'd mind getting "that other one" instead, and I said sure. Great choice!
Regarding the why and why not of its failure, that's been debated here for years. My answer is always the same: software and distribution. The TG16 had some great games, yeah. But Nintendo had a lock on third parties, and Sega had the sports thing down pat, along with their killer first party lineup. And, as the Genesis picked up steam, the third party issue went away. Of course, the TG16 was dead in the water by then. Further, they didn't bring enough great games from Japan. And secondly, I grew up in a small town and there wasn't a store within a 2-3 hour radius that carried Turbo games. We had WalMart, Radio Shack, KB Toys...but not one of them carried Turbo games. Luckily, my step-dad was a truck driver, so I'd send him off with a list of games, and he'd stop at Toys R' Us while out on his route. Beyond that, I was f*cked. I knew of one other kid in my town who had a Turbografx. That's it.