Was it 'worthy competition'? Hard to say without hindsight bias (only the winners 10 years later were 'worthy'), but I doubt Mark Zuckerberg or the Google founders felt there was no worthy competition. It seems fairly clear to me that Facebook (and Google) succeeded because they made better decisions (on average) at a gazillion small decision points, not because they had some great idea that no-one else had thought of.
Friendster and Myspace were the big players for Facebook, Lycos, AltaVista, and HotBot were competitors for Google. A new social network or search engine didn't get noticed back then.
Facebook was founded in 2004 and didn't start showing ads until 2012[1]. Until then they were making losses (default dead).
Google is more complicated, but they were so desperate for money at one point they tried to sell to Lycos.
[1] http://www.thewire.com/technology/2012/12/2012-year-facebook...
Isn't that already mostly true (with a few outlier counter-examples)?
It is much harder for working-class folks (no savings, no college degree, no unique skills) to make the jump.