Why starting a competing service?

There's a lot to learn from past successes and failures, but I would be cautious in letting any past or current competitors shape your vision too strongly. This is especially important in the early stages of a new product or company. So in general, I'd say go for it! :)

You should totally go for it, worst case scenario you will learn a thing or two from it and can apply it anywhere.

Absolutely go for it! It took me a while to learn this: Just because someone is #1 doesn't mean you can't be #2. Working on an idea, especially one proven good by companies like Apple, is always good for a few reason: 1) Apple/Google/Microsoft/etc. aren't the only companies people look at for services. 2) You'll become an expert in the field, if you don't end up making a company, you can probably get a good job. 3) Creating a product, doesn't mean it's the product you'll end up selling, in the process you may come up with a different, better, more needed product, and become a leader in it.

I absolutely believe it is possible to create the "extra edge". I was in a similar situation and decided to go for it. But, one word of advise: It is is VERY easy to significantly underestimate the effort of getting that extra edge to work. It will totally depend on your service, but from my experience it was like 20% of effort to get a decent working version and 80% of efforts to get (closer to) the extra edge. Maybe just be prepared for a bit of "extra" hardship and frustration. Nevertheless, the learning curve of launching your own company or product is simply something no one can teach you as theory - and something I personally would never want to miss. So this aspect alone might be worth doing it. :)

I am sure there are people who are dissatisfied with the current solution. Your a "little something" can be an alternative. In other words, you can always find your target audience and make them happy with your product