Not necessarily. Overall: Look at all these products that have nearly identical features (with only some distinction). The key is to think about the features

Not necessarily. Overall: Look at all these products that have nearly identical features (with only some distinction). The key is to think about the features that would make your product unique and to analyze whether there is people who will prefer your product (at your price point) to all the other options. I'd love to bring something innovative to the market but it really isn't necessary. A lot of people focus on things that a lot of other people don't care about or like. So it's easy to get a decent market share with basically already existing products that just provide some "buy-worthy" features. Of course competition can be harder here but on the other hand you don't have to put that much effort into building something completely new (which will give others the opportunity to improve upon your great idea). It's also easier to analyze an already existing market.