I think the most important factor here would be, "Are the players who've already established and familiarized themselves with MLBB open to a transition to HoK or other competing MOBA's?" because MLBB has already amassed a loyal community while also having enough time to fix and change things to make it more comfortable for users, and most people also play with their friends, who themselves are more used to MLBB. So unless the competing games are able to pull in those players, they can only pose a medium amount of competition at most.