The most common mistake I see smart people make is overthinking it.

agreed

what if you ship something and people use/like it, but you dont know if people would pay for it?

do you put a paywall in front of the whole thing for a cheap price for a month and see if people pay? keep it free? or find a middle ground?

building reel.farm and farcasterstudio.com

Imo make it a paid version with slightly better features - even if the difference is trivial or "cosmetic" 

If people like what you're doing most of them just need a medium to compensate you for the value they get from what you ship

And since its cosmetic/trivial, the lift is light and the downside is non existent