No it doesn't. Same could be asked of Sun Microsystems. They're both niche market dwellers. Still doesn't mean that PCs could fill their places - because they really can't.
The real reason? Most people don't have a reason to have to decide between either platforms, and just go with the flow.

Money, undoubtedly a key factor here. Chinese PC/Windows clones are stupidly cheap - and that is reason enough. Most people are satisfied with cheap speed and power at the expense of integration and longevity. It goes back to Trevor's comment - if you are satisfied with a Holden, why would you buy a Ferrari or Bugatti? All three go from A to B given ideal situations, but that's not the point...
People look for different things in equipment, so please don't go dragging us all back into the old PC/Mac debate. Both camps get what they need out of their respective choices, and after revisiting Windows 7 for the past few weeks at work, I'm very happy to go home to my Macs. Doesn't mean that I'm going to give my employees Macs though... PCs are good enough, and they're used to them because that's what they have at home. Why are the numbers so lop-sided? I think I just told you.

in this circumstance I'm not going to waste company funds on premium gear when cheap will do the job. most businesses think the same - except for a few academics, high-end ad agencies and publishers/printers/tradeshops.
I also have a large shelf at work that is full of dead PC's - some of them only three years old... and just about every Mac we've ever bought is still in service. Go figure... but that's just my experience.