From William Hazlitt's letter to his son:
Remember always that you are but one among others, and you can hardly mistake your place in society. In your father's house, you might do as you pleased: in the world, you will find competitors at every turn. You are not born a king's son to destroy or dictate to millions: you can only expect to share their fate, or settle our differences amicably with them. You already find it so at school; and I wish you to be reconciled to your situation as soon and with as little pain as you can.
Here, when he says that the world is full of competition, does he advise his son against valuing himself more than others because in the world, there are other people too and they too crave for the same things as he does (thus, the competition)? He can't think of him as special but can only think of himself as similar to others and reconcile with others as he can't live without the acceptance of society.
What are the possible meanings in the passage? Can anyone explain this to me? Especially the competition part.