Yes, you should apply, and if you're worried about getting in, apply on multiple cycles. It will not take much of your time to apply in December of 2024, and it seems to me that your file is strong. I push back slightly against the "As we all know, ML Ph.D. has become insanely competitive." At my university, we send plenty of students into PhD programs for machine learning, stats, data science, and computer science. Just last year, a student graduated with a record weaker than the one you are describing, and got into a PhD program. I think the landscape is less competitive than you are afraid of. That said, it's wise to apply to a range of programs, and include some "safety schools." I encourage our students to apply for around 10 programs. Some of our students get a master's degree and then go on to a PhD, but ones with a strong record like yours are usually fine going directly into a PhD.
One last thing. Currently, someone with expertise in machine learning, even at the undergrad level, can get a good quality and high-paying job right out of undergrad. For this reason, fewer go into PhD programs, compared to fields like math. Similarly, for the student's entire time in grad school, they will be tempted to leave and go make lots of money at a company. Lastly, when they finish their PhD, they will be tempted to leave academia. For this reason, there are not enough professors with expertise in machine learning, and that's creating a bottleneck where students who want to learn this topic are unable to get into courses on it. It's essential to the success of the machine learning community that we reserve slots in PhD programs for people who want to go into a career as a professor. The same situation in CS is described in the wonderful article Conserving the Seed Corn.
If you would like to be a college professor, I'd mention that strongly in your application.