In theory, yes the incumbent can shift just enough to water-down your competitive edge but a company or a team with this kind of agility are few and far between. Getting a consensus is one of the hardest thing to do, let alone the speed at which you have to execute.
In my experience this is one of the greatest hindrances to corporate evolution. If you or anyone else knows of any research into this phenomenon and how to help groups move beyond it I would love to see it and learn from it.
