As in every single other similar situation out there, it depends on your competition... their age, backlinks, etc. The keyword could get 8xxx searches a month, but have 10 million results in quotes with 12+ year old domains with tens of thousands of backlinks on the first page of google.
Anyone stands a chance of ranking for any keyword, it just depends on whether it's adventagous to do so, if you are willing to commit the time, and if you possess the knowledge and ability.
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