"If you thought that, then you've not been paying attention."
You got that right! I've only seen the odd video from Blue Origin - things like their capsule landing test. Whilst these things have been impressive, SpaceX have managed to out-spectacular them each time.
You're dead right that there'll be plenty of room in the market for both players. And that the market will grow significantly as launch costs drop. The people who should be most worried about this will be the incumbents, like Arianespace and ULA. Maybe this will help get some of the political pork out of spaceflight, and allow NASA to spend their funds with the lowest bidder.