Nope. A startup with growth potential is serving less than 5% of the total addressable market for their product – often more like 0.1%. Its challenge is reaching product-market fit and then cost-effective distribution/awareness.

When prospective customers provide competitive feedback, consider it. Beyond that, don't sweat competition.

(If you get over, say, 5%, that changes: it needs to either grow the TAM or take market share from other vendors. That's not what most people would call a startup, though.)