Many of us spend a lot of time analysing competition (e.g., via auction insights).
I think this is a poor move.
Competition only exists where you let it.
Worrying about competitors is a sign that you haven’t yet understood what makes you and/or your client unique.
Once you fully understand the uniqueness, you’ll never worry about competition again. (*)
– Nils
(*) I like to express uniqueness in terms of a truly unique value proposition for the right (narrow) target audience, and translate these into creatives and targeting settings of my campaigns. This encourages clicks from potential customers while discouraging clicks from people outside of the real target audience, leaving competitors on a different playing field.