I personally despise Naruto with a passion. However this looks very well developed so far. There's nothing wrong with having more than one of the same kind of project. People do this because that's what they like to do.  Just because somebody else got there first doesn't mean they need to abandon the project that they really wished to create.

Good luck to you and your project

P.S. for real though Naruto is the worst anime on the planet! ;3 Sword Art Online is the best!