Actually (sit down and let grandpa tell you a little story) Matrox was at the top of the gaming graphics market for a while.
Their G200 was competing head-on with the fastest cards of the time, and the G400 was actually the fastest card at its release... but it was eclipsed by the GeForce soon after.
Sure, Matrox wasn't on top for very long, but they have been there.
But what made Matrox special was that they were always innovating. They were the first to have bumpmapping (EMBM, as opposed to the dot3 that the GeForce offered later), they were the first to have vertex texturing (that's displacement-mapping for you who don't know what it is), they were the company that gave you dualhead, triplehead and quadruple-head.... And another thing is that they were always obsessed with image quality. Both in rendering quality (texture filtering, nicely dithered alphablending), and in the analog output signal of the card. My first GeForce was a complete shock after using Matrox cards for years, because of its blurry image quality.
Matrox was also an innovator in the acceleration of video decoding, being one of the first to offer hardware YUY2 conversion and bilinear-filtered upscaling. This made a huge impact on me at the time, because my lowly Pentium 133 could suddenly play a VideoCD (yes, we didn't have DVDs yet) at full framerate in 1024x768 (and possibly higher resolutions, but we didn't have a monitor capable of those)... And you got that smooth bilinear filtered look, instead of the blocky software scalers at the time. CPUs weren't fast enough to scale up to 1024x768, not even with ugly blocky scaling algorithms. So you were basically stuck in 640x480, unless you had a fancy card like the Matrox.
So yes, I would very much like to see Matrox back in the game. But I don't think it is going to happen. They fell way behind, and it seems impossible to catch up.