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Yes, in a sense, but not really. Let me explain.
We all make incoming liquidity possible, so in that sense it's competition.
However, LN+ provides it for free, and you "pay" with your own channel, so it's a different model for different situations. I think both models have a place when building up and operating a lightning node.
I think these services are complimentary and we all help LN grow which benefits us all: the services, LN users, humanity in general.
Is it possible to create rings trustlessly?
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Yes, I successfully tested it already. We will have this feature on LN+ at one point.
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