There is (roughly) only one thing to know about competition.
In competition...the competition sucks for everyone in the competition (even the winners), and rocks for everyone on the receiving end. Competition between computer parts manufacturers is horrid for the manufacturers, and is wonderful for the consumer. Competition between women for men benefits the men (see NYC). Competition between Male Elephant Seals is good for the female seals, and makes Male Elephant seals live short, brutal lives.
Roughly...anyone participating in any competition would be better off with less (or no) competition, while anyone outside the competition is better off with the competition.