Product research: high search volume, low sales for bad competition listings

In recent product research, I found a niche with nearly 100k monthly searches but relatively low sales (average about 300 to 400 sales a month with 7 or 8 products).

The listings are relatively low quality and I feel like all of them are highly priced. Most of them are FBM, with little or no feedback.

On paper this seems like a perfect opportunity to go all in on a great listing, give away some product and jump to the front. Before I do, wanted to see if anyone could try to poke holes in this or think of more questions I should be asking myself. Seems too good to be true….