I work in search quality at Google, and it's really exciting for me to see a result that another search engine returns that I don't understand. It inspires me to think of all the ways they might have returned it, and leads to a lot of neat ideas. For the same reason, I enjoy reading the reaction in the SEO community to major changes to Google's rankings. Sometimes we're too close to a change to see what it does effectively instead of in principle. What the SEOs conclude often ends up being a really good first-order approximation of an unintended side-effect.

If you believe that your competitors are doing incredible things, it's a great inspiration to try doing incredible things yourself, regardless of whether you're right about what they're doing.