The practise of it not being interesting and the stiff competition all depend on the job.
Most people that study law want to be a lawyer (i was no exception) and yes, its very competative. You have to work your ass off during an unpayed internship, competing with many others, to land a high-pay job, but this doent go for every law firm.
In the Netherlands, law students are the few students that can always get a job here, no matter how fucked up the job market is.
As for the work being boring, a lawyers work can be very intersting, but this depends on the case and what you personally find interesting. I hated financial law, but loved criminal law.