We created and sold a company that did this, eventually it was sold to bighand.
OK all jokes aside, honestly two things at play: (1) Impossible to keep tabs on the whole space all the time. No matter how hard you search, you always miss things. (2) Some amount of (proper) competitive research is really good (for obvious reasons), but at the end of the day--you gotta get on with doing your user research/building/testing testing.