Knowing that our competitor is trying to poach one of our clients away by promising a new feature could be very useful to us. Likewise, knowing that a competitor is at risk of losing a customer because they won't implement a feature that we're willing to implement (or already have) is a qualified sales lead.
All of this would be illegal if discovered in this way, presumably, but it's not entirely accurate to say that information is not power.
I struggle to see the tech/data being used in that way. At a much higher level, the data is more likely anonymized (where possible) and/or not directly exposed to anybody. Think of the initial github copilot that used source code across all of the repos and how it was able to take instructions for what you wanted to build and give you essentially a consensus built piece of code that fit what you asked for, be it by auto-completion, comments, or direct requests.
"I want to build a business that does X using Y. Give me revenue predictions, spend over time, and customer demand predictions." etc
Usually customers are open about this kind of thing though. They play you off your competitors and vice versa.
I don't totally disagree, I just think the real secrets have nothing to do with features or dev. The secret is A is about to go bankrupt or B is facing legal trouble. These kinds of things aren't in JIRA.
All of this would be illegal if discovered in this way, presumably, but it's not entirely accurate to say that information is not power.