Just because the top site is an exact match doesn't mean you can't dislodge them from their #1 spot.
Without knowing all that you have done for your site, the best advice I can give is to look at what they are doing, and then think about other ways to beat them. For the sake of this discussion, let's say that they have a great youtube channel and are very active on twitter. First, you will have to make sure you have a presence on those two sites as well.
Then, you need to take it to the next level - make sure you have a Pinterest, LinkedIn, FB, StumbleUpon, reddit and delicious accounts. Make sure you have the google +1 button on your site and a Google plus page where you link back to your site from.
Simply put, you will have to do more than them in order to take the top spot.
In regards to if it's worth it or not, only you can determine that.
Good luck!