Right balance is relative to your business and at what state you are in currently. For a t=0 startup, I would rather concentrate on finishing the basic feature

Right balance is relative to your business and at what state you are in currently. For a t=0 startup, I would rather concentrate on finishing the basic feature set and launching asap rather than spending time looking around. For a business which is entering a growth stage keeping tabs on competitors and what's new makes more sense.