At the low end, you aren't going to be competing with SaaS providers, you're going to be competing with people who just self host a similar solution that's either open source or they built themselves.
If you think you can knock out a cheap version with a few developers all of your potential customers are going to be thinking the same thing.
If you think you can knock out a cheap version with a few developers all of your potential customers are going to be thinking the same thing.