I'd say, launch it and keep close watch of your competitor. There almost certainly will be future opportunities where you can make a name for yourself, either b

I'd say, launch it and keep close watch of your competitor. There almost certainly will be future opportunities where you can make a name for yourself, either by learning from your competitor's mistake or by generalizing and grabbing a bigger market share or perhaps by having better filtering and therefore more refined content or the like. And if you are planning to take away some of his market share make sure that switching will be a sweat less action.