I’m at a loss. While I do have the skill and funds to make a Tapping game similar to Tapping Mania or Tapping Legends, I’m not sure if I should due to the competition. What do you guys think I should do? I would love to hear your feedback and opinion. 
That’s not a question we can answer. That is something you alone need to deeply think about.
Irrespective of what the current situation looks like regarding “tapping games”, ultimately it will be up to you to pull the game together and stand against the tide if you’re looking to “stand out in the crowd”, provided that’s what you’re aiming for. If you’re okay with just setting simple achievements and reaching them, go for it. Success is personally defined, there’s no standard for it.
Be mindful of if you actually want to create a “tapping game” or not as well. That’s something, again, you need to decide on your own and something of which our opinions hold little value on. Ask yourself first and foremost if you actually want to create this kind of a game. You’re probably not going to enjoy making what you wouldn’t play yourself for a while and it’ll feel more like a chore than something you’re passionate about creating - this, again, unless you’re more after material gain or fulfillment rather than creating for the sake of expressing creative talent.
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It really depends on your motivation… If you’re willing to put a lot of time into the project, and really make it unique and good. I would say go for it, the competition for clicker games currently are quite high. So if you don’t have any investing funds the game will probably be a waste. But if the game is good enough, then it could become big.
It’s going to be a hit or miss. Tapping games are very saturated and players wouldn’t play yours if they could simply play the other games