IMHO (as someone who's been "crashing" a 6" prop drone for about 6 weeks and never seen a gate in real life, let alone raced through one), I think the Vendetta is a great all in one package that delivers a lot of cutting edge technology, BUT I don't see it as a competetive racer. The Vendetta is designed to work flawlessly. It's not designed to be tweaked, prodded, and upgraded. This hobby is moving so fast, I feel like the competitive racers are always looking for that next little change it slightly lighter component to give them a few more seconds. You can't do that with the Vendetta. When the other racers find some tweak to blow the doors off, you're $500 investment might as well be an anchor. That may be in a year, it may be in 2 months, it may have already happened.
That being said, I'd LOVE to own a vendetta. I think it's a great platform to just get out and fly amazing FPV. It's designed to excel with a GoPro on board (something I want in a quad). I just know that it's way above my current skills.