Should we be concerned about Polkadot?

I am a big Cardano supporter. My question is simple. Given the rise of this fairly serious competitor in the form of Polkadot, surging past Cardano, and some others, should we as a community be concerned? They seem to be rapidly developing an ecosystem and are on track to be as competitive or more than us by early next year, including an ethereum bridge. I admit, it has me and a number of others concerned. What advantages does our approach, timeline, and technology have over theirs? Thanks.

Here is a thread from Reddit on the topic:

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Great thread, learned a lot!