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The original EMACS ran on ITS on PDP 10s in the MIT AI Lab. It definitely wasn't a commercial product.

In the mid-1980s there was a commercial Emacs workalike (on floppy disks) for the IBM PC, called The Final Word, later acquired by Borland and renamed Sprint. For printing, it featured a workalike of Scribe, an early text markup language and precursor to HTML by Brian Reid. In law school I'd used a TOPS-20 Emacs and Scribe for law-review work, so later I bought The Final Word and an early HP LaserJet printer to produce camera-ready copy for my first book. Good times (sort of).

https://en.wikipedia.org/wiki/Sprint_(word_processor)

The original emacs was a commercial product?

It wasn't.

What he probably meant, that GNU Emacs (1984-...) was based on the code of another Emacs implementation, Gosling Emacs, which also had a commercial version.

The original EMACS was developed at MIT, 1976, by Guy L. Steele Jr. and David Moon.

Yea sorry for the misinformation. I'd read an earlier version of the Emacs wikipedia page that made it seem like Gosling Emacs was the original. The page is clearer now.