Not very.
One of my peak experiences was high school band, where we were all about as good as each other and we played some really incredible music, correctly. We also made some intricate patterns on the marching field. The key point was I was in this group making beautiful music, not the fact that I was second chair (first year) or first. I did compete in district, regional, and all-state band competitions, but this got me a chance to play even more beautiful pieces with a group of people that could learn them in six or eight rehearsals.
My piano hobby, my teacher didn't enter me in any district or above competitions, even though I was maxing out I thought at the local NatPianoGuild competitions. Lots of blue ribbons and little gold flash pins resulted, whoopie. My teacher got to smile in front of her teacher friends. No great loss, my travel budget included bicycle tires and tubes, nothing more. I was out there on the flat Texas suburbs very recently cow pastures, making music from printed scores without even having heard them on LP's I couldn't afford. As a result, I have a real individual style. Nothing like people I've heard. Kind of rare in this group think world. Some style is better than others and wins competitions ? Not likely I'll waste much time learning it.
So compete, figure out your grade level, blah blah. I play 6 or 10 or 18 beautiful pieces these days that sound a lot better on my $1000 piano than any sound system I couldn't afford. (and mine is $1500 plus a lot of electronics upgrades).
Work, all those co-workers tried so hard to make me look stupid. I made a process innovation between being notified of layoff and the final day. You're so smart guys, you worked ten more years while I stayed home and played the stock/bond market with my squirrel hoard. And practiced piano. Who won? Their homes & vacation homes and boats were bigger. My music was more beautiful, IMHO. Seeds versus songs, I suppose birds keep count too.