Exactly. FWIW I've had both and prefer The Pit to Clyde Cooper's, but the two aren't competitors in any more than McDonalds competes with PR or Raleigh Times or Chuck's. And while PR is VERY good, it's your standard burger. Nothing wrong with that, but sometimes you're in the mood for something a little out of the ordinary and that's where Chuck's (and formerly Draft) are welcome additions to the food scene here. That and the fries at PR can't even hold a candle to the Belgian-style fries at Chuck's. As for price, it's not any more expensive than any other downtown restaurant and cheaper than a few.
As for Durham they do have some good restaurants, but they also have some that are criminally overhyped for what you actually get (Dos Perros, I'm looking at you).
This is funny because they microwave the food at The Pit.