I answered this same question for a friend in a DM the other day. You carry on and do it. Your idea isn't really going to be the same as someone else. Your thinking will be different so maybe both can co exist.
But the bottom line you learn far more from trying and launching something than from stopping. Once you put it out there you might be able to find a new market for the product that the other products don't do. Or some feature you have that others don't.
The skills you learn building / making something and putting it out there are worth way more for doing it. So go for it.
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