This is so spot on.
I am also in a competitive space. Couple of my competitor man-child founders blocked me on social media for simply being on their feed. I took it as a blessing. I tuned out from their noise quickly and focus on customers rather than social media attention disorder.
Do yourself a solid. Don't watch competitors. Watch customers and the market.
If you come to a market that's "wide open" with nobody else there, there are two possibilities:
1. You're the first person to ever think of that idea
2. Lots of other people have had the same idea, but failed to make it work.
I mean, #1 is possible -- somebody has got to be first -- but #2 is much more likely.
By contrast, if you're in a space with lots of competitors, that demonstrates that the business idea is sustainable: if the market can support N sustainable companies, is can probably sustain N+1, particularly if you bring something new to the table.