Yep, absolutely agree.
The word competition may throw some folks off. There is no reason you have to view it as a "you vs everyone else" event. It's you vs what you can do under pressure on the clock. That's it.
Another thing I love about competitions is that they force me to get uncomfortable and grow. When we practice on our own, we tend to practice the things we are already good at. That makes us feel good, and range time and ammo are limited so we enjoy reinforcing the positives.
I wouldn't practice things like strong hand only or weak hand shooting nearly as much if I didn't shoot competitions, because its not fun and I don't enjoy working either skill into a self motivated range session.