No, but I think you should bear two things in mind. First, starting a YouTube channel with fame or money in mind is usually not a good idea. Most popular channels start as hobbies and grow because the audience takes a liking to their passion, personality, skills, and/or knowledge. Oh, and also because of luck. If you're after money, there are tons of better options out there, like freelancing. It can take years until you actually start earning anything from your channel, specially if you're working at it on the side. Passion and fun should be your priorities; money might or might not follow.
Second, the greatest problem with YouTube (any social media, really) isn't even the competition; it's the platform itself. You don't own the platform, so you can't do anything if they change the terms of service or start doing things on a whim that screw you. Hell, they might just remove your content because they don't like you. YouTube is great for connecting you to a wide audience, but make sure to have your own platform as well.