Is There a Need for the First Version of a Product?

The most important thing to take into account is that you're not done with the first version. The initial scope of the actual functionality doesn't matter as much because you will probably, hopefully, if you ship fast next month or two months from there, you'll already have a better version out there. So the point of the first version is really to prove out the hypothesis that this is something that people want and are willing to pay for. That includes trust, function, ease of use, and delight.