Generally, competition is very essential in a free market and without competition, there would be monopoly in the production of goods and rendering of services. And when there’s a monopoly, small business and start ups are destined to fail.
That's exactly what's happening in cryptomarket, we've seen a lot of competition here and fortunately there's no monopoly since every project can have a chance to a be good one as long as they offer good services and as long as investors sees their values. Competition sometimes kills a business as well but that is very normal because if you can't stand with the competition, that only means to me that your project is not worth enough to stay in a very competitive market.