The answer is generally, yes. If you're trying to rank it for SEs, the competition makes it harder, but in all other contexts, this value is high. That is, this depends on the context you're asking for "when the competition on a domain name is high":
- If you mean competition for a domain auction, then yes, the value (and price) is high
- If you mean competition as listed in Google's AdWords planner, then the value/price is high to bidders as well as potential for site.
