Well, look at the opposite case. If you're in a market where your competitors are IPOing left and right, then most likely you'll be doing pretty good as well.
I'm not saying it's a 1:1 correlation, of course. But in a market where your competitors are extremely successful, it proves that it's possible you can be successful as well. That's not always the case in every market since many markets out there just won't be viable for a successful company.