So in business parlance, you're saying that it's easier to make money in a 'blue ocean', with little or no competition, than in a 'red ocean', with lots of competition.
The problem is that you often have to start in a puddle, in a hope (but without a guarantee) that it will grow to a size of an ocean.
The Blue/Red Ocean concept isn't about the size of the market, it's about the lack of competition in the market either by being first in a clearly new market, or by differentiating your offering from others to the extent that you're not competing for the same consumers. There's a book "Blue Ocean Strategy." It's worth a read for the explanation, and the case studies. There's worksheets and process too, but that didn't lend itself well to listening in the car.
Blue oceans are amazing if you can find them.
"Blue Ocean Strategy" was an interesting, if repetitive, book. I enjoyed the examples/case studies.