2 Lots of people
For the longest time i truly believed that the only chance i had to make a good income online is if i had the opportunity to find a sort of an untapped niche that i could be able to dominate.
Finding a gold mine niche that had no competitors.

What a load of carp. i can say
Did you know that you can make more money on page 30 or on a Google page that has over 50,000 pages on a particular key phrase than you would in a piddy-little untapped micro niche.

Its true.
By selling or promoting to millions of people who want to buy, that means that you are casting your net into a sea that is absolutely teaming with fish, even though the number of boats are slightly more there is a chance of you making a catch even though its one or two that can translate into $100 or $200 a month.

And if you target the buyer profile keywords like order, buy, purchase, rent, etc then the competition might be far less than you might think
There are sites that make boat loads of money in ultra competitive niches getting hundreds of visitors a day and these sites are barely even visible in the Search engine rankings- except on th multitude of long-tail and product keywords. Two weapon that i know of that can help you do this is are ezine articles and wordpress blogs.
An man can they pull it down.
So for no try and put a side what you have heard about niche domination if it doesn't seem to work for you. this is your window.

Try and consider the reality of how possible it really is to get yourself into a massive niche, harnessing the shear traffic due to the shear demand that exist for the "long-tail", "mid-tail" and "product-tail" the misspelled unique and crazy keywords- tail and all the rest of it.
Go after the buyers in the ultra-competitive , high demand markets and watch what happens when you start building back-links.