Business Competition

Ok- I know we need to focus on the T line, not the A line. But my question is about the A line.
Specifically, with business competition. Would you recommend someone to intentionally NOT keep an eye on his/her business competition? Or to intentionally keep an eye?

Reasons to keep an eye:
– see how far “ahead of or behind” I am in terms of ranking top 5 in this business.
-Possibly get ideas to implement.
-Could possibly encourage healthy competition.

Reasons not to:
– could be a waste of time “watching” them.
-could cause resentment / jealousy if they are “winning” in this venture of being top 5 in the business.

I have a feeling you’ll tell me it depends on my thought lol. And I get this, but I still wanted to see what you personally would recommend and why?

Thank you.