No it wasn't. Apple was close to extinction because so many "pros" were leaving. It was consumer sales - driven by the iPod and iMac - that saved Apple.
Actually, no. When Steve Jobs came back in 1997 (he wasn't made official CEO till later) Apple focused on PowerMac G4/5's and their dedicated ACD CCFL LCD"s that were highly respected in the professional market. The iMac was also a big seller. Apple was able to get out of bankruptcy as Jobs cut extraneous departments such as their printers and other peripherals. The professionals that used PowerMac's and Apple displays coupled with the iPod in 1999-2005 provided Apple with much of their money for R&D into the iPad which led to the iPhone. Without Jobs streamlining their product line into four area's of focus, with the professional market at the time being a main focus market, Apple would not have had the funds to enter into the mobile market. Recall the Motorola ROKR? A failed attempt in 2005 for Apple testing the waters (Madonna was paid $4 million for appearing in a commercial with her "Confessions on a Dancefloor" album).
Pro's spent a great deal of money, many creative and business firms, design/film studios have $100k+ to upgrade systems and software licenses. They may not be as large in numbers as individuals buying iPhone's, iPad's and MacBook's, but what they lack in numbers they more than made up for with the amount of money each business spends. Annie Leibovitz used to use PowerMac's and 30" ACD CCFL LCD's, she would upgrade annually and spend a huge amount shooting for Vanity Fair, Vogue. Now, she's using Windows systems and even pimping out HP displays (mostly as she lost a ton of money after her partner Susan died of cancer and with NYS not recognizing gay marriage she had no right to much of the estate and paid millions in taxes and other legal fees in addition to the health insurance she paid for her deceased partner).
In the end, Apple is choosing to ignore the professional market, not because there is not money in it but because they want to cater to consumers. The argument that there is little profit currently is erroneous as that is mainly a byproduct of Apple's marketing focus, with increasing sales in Windows systems (and Unix). If Apple were to focus some of those $100 billions in cash into their professional products, they would do very well. Definitely not as much as the consumer market, but enough to make a great profit. Heck, many have been clamoring for years for a mid-tower bet the top iMac and Mac Pro, in the price range as the PowerPC PowerMac's ~$1500 while offering upgradability for graphics, RAM, HDD's, PCIe cards (I have a USB 3.0 care in my Mac Pro, and have upgraded my HDD's and SSD's, RAM, etc. and it will last me longer than an iMac and with 12-Cores cuts down on HD rendering, and time is a huge issue for professionals, MacBook Pro's cannot handle film editing as fast and well as a tower).