I am doing just that with my startup. Competing with the effective monopoly in security that is Burp Suite. The only reason we succeed is because I could afford

I am doing just that with my startup. Competing with the effective monopoly in security that is Burp Suite. The only reason we succeed is because I could afford to spend 3 years without pay to build it and we are barely starting to generate revenue. There are a lot of monopolies that are hard to break because VC won't touch them (this is our case). But at some point the incumbent becomes so full of themselves that customers have enough and then you can compete. But it can take many years.