Which action from those existing developers would be best for users?
a) Do not copy your product/service. Continue doing things the old way.
b) Make something different, not because it's better, but only for being different's sake. Forces users to adapt to something new instead of using what they're already used to.
c) Embrace the innovation. Put all that's good about your product/service in their offering. Then iterate through it and improve upon it. Now users have the best of both worlds, they have the brand new innovation, in a format they're used to. And taking benefit from next iterations improved from it.
So where does your preferred option (c) leave you in this scenario? Would you whole-heartedly welcome another player "embracing your innovation"?
If that happens to me, I'll lose all motivation to innovate any further. What is the point after all?