[nostrademons]

Depends whether you think you can do it "better", for some segment of the market.

There's no point in competing if you're just going to do the same thing as the entrenched competitor, but worse. Why would someone use your product?

There's a big reason to compete if you can do what someone's already doing, but better. And it doesn't have to be better for everyone. It just has to be better for some population of existing users that are currently dissatisfied with their existing experience.